Spring Budget 2023 – Capital allowances

Spring Budget 2023 – Capital allowances

by | Mar 16, 2023 | Capital allowances

Designed in part to help offset the increased Corporation Tax main rate, the Chancellor announced the introduction of a new ground-breaking 100% first-year capital allowance for qualifying plant and machinery assets. This measure is also expected to help boost...
Super-deductions finish March 2023

Super-deductions finish March 2023

by | Dec 8, 2022 | Capital allowances

Time is running out to claim the super-deduction offering 130% first-year tax relief. The deduction is available to companies until March 2023. The super-deduction was designed to help incorporated businesses finance expansion after the coronavirus pandemic and to...
What qualifies for First Year Allowances

What qualifies for First Year Allowances

by | Nov 3, 2022 | Capital allowances

Businesses can claim a 100% first-year allowance (FYA) on the purchase of certain qualifying Plant and Machinery (P&M). The cash-flow benefit of accelerated tax relief is designed to encourage businesses to invest in capital items which help reduce their carbon...
Capital Allowance Pools

Capital Allowance Pools

by | Sep 29, 2022 | Capital allowances

A Writing Down Allowance (WDA) is available for plant and machinery expenditure that exceeds the Annual investment allowance (AIA) and / or does not qualify for a First-Year Allowance as well as for residual balances of expenditure that has been carried forward from...