Are You Making the Most of Capital Allowances?

Businesses looking to purchase capital equipment are able to claim tax relief in the form of capital allowances. Here we outline some of the key details. What is the Annual Investment Allowance? Businesses purchasing plant and machinery are able to make use of the Annual Investment Allowance (AIA), which allows the costs for equipment, machinery … Continue reading Are You Making the Most of Capital Allowances?

Year End Tax Planning Tips For Companies

  Corporation tax is set to reduce to 19% with effect from 1 April 2017 but opportunities still remain to reduce and defer corporation tax liabilities. Here are some you may wish to consider. MAXIMISE CAPITAL ALLOWANCE The annual investment allowance (AIA) provides 100% tax relief for qualifying expenditure incurred up to a limit of £200,000 … Continue reading Year End Tax Planning Tips For Companies

Changes To Plant & Machinery Annual Investment Allowance

The Annual Investment Allowance (AIA) dictates up to what amount you can deduct the full cost of qualifying plant and machinery from your taxable profits. Any expenditure incurred outside the AIA is relieved through writing down allowances. As covered in our blog posted 27th July, from 1 January 2016 the AIA is reduced from £500,000 to £200,000, which will come as a … Continue reading Changes To Plant & Machinery Annual Investment Allowance

Changes to Annual Investment Allowance from January

Having concluded that a reduction to £25,000 would not be “remotely acceptable”, from 1 January 2016 the chancellor has set the Annual Investment Allowance at £200,000 - “it’s highest permanent level.” For those businesses whose financial year is not in line with the calendar year transitional rules will apply and the Annual Investment Allowance will be apportioned … Continue reading Changes to Annual Investment Allowance from January

New Beginnings

Spring is here, the clocks have gone forward, lambing is under way, and the new tax year is upon us! Here are some of the changes to expect upon the start of the new tax year 2014/15: 1) Basic personal allowance tax band increase to £10,000. 2) The basic rate tax band has reduced to £31,865 … Continue reading New Beginnings

Budget 2014 and 2014/15 Tax Tables

If you are interested in the tax allowances for 2014/15, please refer to our Tax Tables: Green & Co 2014/15 Tax Tables If would like to  read our summary of the 2014 Budget, then please follow this link: Green & Co Budget Summary 2014 The main issues include: Savings: Reform of ISAs. The current distinction between stocks and shares … Continue reading Budget 2014 and 2014/15 Tax Tables

Prevention is better than cure!

Prevention is better than cure! - A saying that can often apply to reducing your tax bill. Taking a proactive approach to your accounts can often be the simplest way to save you tax in a number of ways, for example: Annual Investment Allowance (AIA) The AIA allows you to claim 100% of the cost … Continue reading Prevention is better than cure!

Thinking of investing in large Plant and Machinery?

Take advantage of the Temporary Annual Investment Allowance Increase Back in Autumn 2012, the chancellor made a surprise announcement to increase the maximum amount of annual investment allowance (AIA) from £25,000 to £250,000 from 1st January 2013 for a temporary period of 2 years. (Following which, the allowance limit will drop back down to £25,000 … Continue reading Thinking of investing in large Plant and Machinery?