Purchase Annuity
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The Government announced that it would be clamping down on the ‘aggressive’ tax avoidance schemes being used by some large firms, who rent machinery and then claim excess tax relief.
Businesses are able to claim capital allowances when they enter into a long funding lease for their buildings and machinery.
However, some ... (Read More)
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The Finance and Leasing Association (FLA) is calling on the Treasury to extend tax relief on energy efficient equipment to the asset finance sector.
The association believes that the extension would benefit small businesses and is calling specifically for the relaxation of the Enhanced Capital Allowances (ECAs) to cover energy saving ... (Read More)
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Every time a commercial property owner spends money buying or improving it, there is a strong chance they can offset that expenditure against profits or general income for tax purposes – a little tapped resource offered by the Inland Revenue.
Indeed, the ability to claim capital allowances on commercial properties has ... (Read More)
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Up to late 19th century (1878 to be precise) there were no capital allowances.
In 1878, a “wear and tear” allowance was introduced for traders in plant and machinery by allowing them to reduce their income by the allowance amount. For mills and factories, a “mills and factories” allowance was available. ... (Read More)
