Posted in 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
Posted in 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
Continue readingPosted in 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
Continue readingPosted in Capital allowances
The Chancellor’s announcement of a temporary five-fold increase in the Annual Investment Allowance (AIA) will be welcomed by many small and medium sized businesses looking to incur significant capital expenditure on plant and machinery.
The Annual