Capital Allowances

Capital expenditure

January 26, 2024

Capital allowances can be claimed on expenditure on certain types of assets used in your business. You must be careful to distinguish between •‘plant and machinery’ (P&M), which includes many fixtures and fittings (such as desks or chairs for an office); and • structures and buildings. The latter attract much slower tax relief. The rules

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capital losses

Realise those capital losses

March 15, 2023

Realise those capital losses If you are planning to sell any property or your business in the near future, be aware that the annual exemption for capital gains tax will be cut from £12,300 to £6,000 on 6 April 2023. That exemption will reduce again on 6 April 2024 to £3,000, so long-term planning is

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Claiming capital allowances

October 13, 2021

Claiming capital allowances   Capital allowances of 130% are currently available on some plant and machinery. Buildings and structures do not usually qualify as plant, but there are exceptions. Agricultural structures have been shown to be ‘plant’ rather than buildings for tax purposes in the case of mechanised grain silos and potato stores. In both cases

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Commercial Property Changes from April 2014 for Buying or Selling

April 4, 2014

New government rules have been introduced which have changed the Capital allowances, these will come into effect from April 2014. The new rules will apply to the acquisition of second hand commercial property on or after 1st April 2014 or 6th for non-corporates. If you are buying a commercial property after April 2014, then contact

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