by admin | Jun 26, 2019 | Capital allowances |
One of the Autumn Budget 2018 measures was the introduction of a new structures and buildings allowance (SBA). The SBA allows for tax relief on qualifying capital expenditure on new non-residential structures and buildings. The relief will therefore apply to the costs...
by admin | Mar 12, 2019 | Capital allowances |
Capital Allowances are the deductions which allow businesses to secure tax relief for certain capital expenditure. Capital Allowances are available to sole traders, self-employed persons or partnerships, as well as companies and organisations liable to Corporation...
by admin | Feb 13, 2019 | Capital allowances |
Businesses can claim Capital Allowances tax relief for certain types of capital expenditure. For expenditure on plant and machinery that exceeds the Annual Investment Allowance (AIA) and does not qualify for a first year allowance, a standard 18% Writing Down...
by admin | Jan 29, 2019 | Capital allowances |
The recent, and temporary, increase in the AIA to £1m from 1 January 2019 creates computational issues if a trader’s accounting period straddles this date.The following example published by HMRC illustrates one variant that you may encounter when considering AIA...
by admin | Jan 29, 2019 | Capital allowances |
When you purchase a van or other equipment that qualifies for tax relief, the cost of the asset is reduced – for tax purposes – by the amount of any Capital Allowance you claim.Consequently, if you sell the asset at a later date you will need to compare...
by admin | Jan 16, 2019 | Capital allowances |
You can use the Annual Investment Allowance (AIA) to claim a very generous 100% first year tax relief for qualifying expenditure on plant and machinery. The allowance is available for most assets purchased by a business but does not apply to cars.The AIA was set at...
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