Capital Allowances
| 2021/2022 | 2022/2023 | 2023/2024 | |
| Main rate pool: writing down allowance |
18% | 18% | 18% |
| Special rate pool (long life assets, integral features): writing down allowance | 6% | 6% | 6% |
| Annual Investment Allowance (AIA) cap: | £1,000,000 | £1,000,000 | £200,000 |
| Structures and Buildings Allowance | 3% | 3% | 3% |
Expenditure within the AIA qualifies for 100% allowance in the year of purchase. The AIA cap is currently £1,000,000 from the 1st January 2019. On the 1st of April 2023 the AIA limit will be reduced to £200,000 again. If the accounting period is shorter or longer than 12-months the AIA cap is apportioned based on the length of the period.
The AIA allows businesses to invest in equipment and fixtures (cars and buildings don't qualify), with 100% tax relief in the year of purchase.
Charities & Not For Profit
We have been providing charity clients with high quality, specialist advice and service for many years, and our charity clients range from small village halls to large national organisations...
Farming Industry
The largest industry sector that we deal with is farming, as you would expect in a rural practice. This means that we have developed considerable expertise in this field...
Business News
