Estate Planning - Keep more of what you make

Capital Allowances

‘IN THIS WORLD NOTHING CAN BE SAID TO BE CERTAIN EXCEPT DEATH AND TAXES’ BENJAMIN FRANKLIN

Your business’s tax liability can be mitigated by taking full advantage of your capital allowances.

What are capital allowances?

Capital allowances aren’t just related to buying plant or machinery. If you buy or sell a commercial property, you may be able to write-off many of the fixtures and fittings again tax.

We can help you identify areas where you can take advantage of capital tax allowance.

Annual investment allowance

The annual investment allowances is variable, and has been as high as £500,000 per year and as low as £25,000. If you are planning to invest in plant of machinery, then it is worth taking advantage of AIA.

Capital allowances are available for company cars, with the amount available depending on the car’s level of emissions. There are also capital allowances which can be claimed on short-life assets which are expected to last no more than four years. And enhanced capital allowances are available for certain environmentally-friendly technologies.

Talk to the team at Hartsfield for more information about capital allowances, the annual investment allowance and allowable expenses.