Introduction Summary
1.Section 68 extends the 100 per cent first-year allowance (FYA) for expenditure incurred on cars with low carbon dioxide (CO) emissions and electric cars, which is due to expire on 31 March 2013, for an additional two years to 31 March 2015. In addition, the section reduces the emission thresholds that determine the rates of capital allowances available on cars and the restriction of lease rentals. It also aligns the treatment of cars with other assets provided for leasing by excluding expenditure on cars provided for leasing from qualifying for FYAs.