Invest and save tax

Invest and save tax

by | Mar 21, 2024 | Capital allowances

The Annual Investment Allowance (AIA) is a generous tax relief that allows for the total amount of qualifying expenditure on plant and machinery to be deducted from your profits before tax. The AIA can be claimed by an individual, partnership or company carrying on a...
Full expensing

Full expensing

by | Nov 16, 2023 | Capital allowances

The full expensing 100% first-year capital allowance for qualifying plant and machinery assets came into effect on 1 April 2023. To qualify for full expensing, expenditure must be incurred on the provision of “main rate” plant or machinery. It should be...
Repairs or replacement of business assets

Repairs or replacement of business assets

by | Sep 21, 2023 | Capital allowances

The term 'capital allowances' is used to describe the allowances available to businesses to secure tax relief for certain capital expenditure. The rules that govern the purchase of capital equipment such as computer equipment, vehicles and machinery by...