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A stalled claim?

14 May 2008
Issue: 4158 / Categories: Forum & Feedback
Are 'track day' cars eligible for 100% capital allowances?

We have recently taken on a new client company which organises driving experience days using various high performance sports cars for days on race tracks. In previous periods the business has claimed first-year capital allowances on these cars on the basis that they are purely for track use. The last period for which computations were filed to HMRC was the final unincorporated period ending in 2005-06.

We have looked in some detail at the legislation and cannot find anything to justify such a claim. We believe that all the cars are suitable for road use. Some of these cars are registered and insured for road use and some are not in case this makes a difference. The company also has a flatbed trailer for transporting vehicles to track days although most are stored at race tracks ready for use.

The only possible help appears to...

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