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The annual investment allowance (AIA) was introduced as a means of modernising and simplifying the capital allowances system. It is relevant for expenditure incurred on or after 1 April 2008...
The allowance is given at the rate of 100%, up to a maximum amount of expenditure. The maximum level of expenditure covered has changed a number of times since the allowance's introduction, with...
Annual investment allowanceThe annual investment allowance (AIA) is a capital allowance (CA) which allows businesses to claim a tax deduction of 100% of qualifying expenditure, e.g. purchase...
Directors and employees are entitled to a tax deduction for expenses they incur “wholly and exclusively” in doing their job. However, more flexible rules apply for expenditure on equipment...
At the end of 2020 the annual investment allowance (AIA) reverts to £200,000. If your financial year spans the change, transitional rules can unexpectedly restrict your entitlement further....
What’s the AIA?The AIA can be claimed in respect of qualifying expenditure, e.g. plant and machinery, including integral features but not cars. The amount of the AIA has varied significantly...
Corporaton tax ratesThe corporation tax rates were aligned on 1 April 2015 when the main rate fell to 20%. This rate is set to continue. The 2015 Finance Bill will include a provision...
Corporaton tax ratesThe corporation tax rates were aligned on 1 April 2015 when the main rate fell to 20%. This rate is set to continue. The 2015 Finance Bill will include a provision...
There are potentially significant tax and NI savings to be made by incorporating your business. This includes a one-off planning opportunity when you buy equipment. How can you maximise your...
You claimed a tax deduction for the full cost of equipment which you used to varying degrees for private purposes. You recently sold it, so how much of the sale proceeds will be taxable?