by David Merrifield | 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 David Merrifield | 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 David Merrifield | 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 David Merrifield | 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 David Merrifield | 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... 
by David Merrifield | Dec 19, 2018 | Capital allowances
The Annual Investment Allowance (AIA) was permanently set at £200,000 for all qualifying expenditure on or after 1 January 2016. However, in the Budget earlier this year, the Chancellor announced a temporary increase in the allowance to £1 million for a 2-year period...