Fleet operators across the UK are welcoming a major tax reform that could significantly reduce leasing costs for commercial vehicles. The Autumn Budget 2025 introduced a 40% first-year capital allowance for leased vans and light commercial vehicles, effective from 1 January 2026. This marks the first time leased assets have qualified for such relief, closing a long-standing gap in the capital allowances regime. Previously, only outright purchases benefited from full expensing