Trucks qualify for Annual Investment Allowance (AIA), letting you deduct the full purchase cost from taxable profits in year one — up to £1,000,000. HP agreements allow you to claim capital allowances. Lease payments are typically fully deductible as a business expense.
UK Truck Market
The UK commercial vehicle market is worth over £8bn annually. HGV registrations reached 47,000 in 2024. The average age of UK trucks on the road is 7.8 years, with many operators planning fleet renewals to meet Euro VI emission standards.
Frequently Asked Questions
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