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    Corporation tax - Special situations - Companies with investment business - Management expenses - Allowable expenses - 16185

    The following types of expenses are deductible: - capital allowances on plant and machinery (¶4295+) used for business purposes are given by deduction from profits of the accounting period....

    Shared equipment - who receives the capital allowances?

    If you buy equipment for use in your business you’re entitled to claim a tax deduction for the cost. But who can claim the deduction if the equipment is shared by two or more businesses?

    Is it ever too late to claim capital allowances?

    Your new accountant has been pawing over your business records and identified expenses going back ten years for which no tax deductions have been claimed. He says a claim can still be made. It...