GT Superbikes

There is not a better time to get yourself onto a bike!  With rising fuel costs,the goverment have actually showed a little common sense and DONE something Good for biking!!!!

 has revealed how bikers can make massive savings and take advantage of a little known change in law which could slash up to 40% off the cost of a new bike. 

The Get On campaign has identified a change to the Finance Act which means self-employed riders buying a bike solely for business use can deduct 100% of its cost from their taxable profits by claiming it as an annual investment on their tax return.

 The recent change to the Finance Act shows the majority of those using their bikes for business will not only be able to take advantage of the time saving benefits enjoyed by life on two wheels, but they can also take advantage of a great tax break.

 John Shaw of Chartered Accountants, Bentleys of Bolton commented: “Motorcycles are no longer treated for tax purposes like cars but as plant and equipment. This has a significant affect on the amount of tax relief you can claim when you buy a motorcycle for use in your business.

“Company cars are now limited to a 20% or 10% annual tax write-down unless they have a carbon footprint below 110g/km, in which case you may qualify for a 100% allowance. The same criteria no longer apply to motorcycles. Whatever their CO2 emission, 100% of the cost is potentially available as a tax write-off in the year of purchase.”

Sean Byrne, Tax Consultant for accounting firm Haslers, added: “The new rules apply only to motorcycles purchased after April 6, 2009. Total capital allowances must be within £50,000 in order to claim the tax write-off”

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