Plant & Machinery Archives

Is a Grain Silo Plant?

The age old conundrum of whether an item is classed as “plant” for capital allowances, or whether the expenditure was on a building or structure can be difficult to resolve but with different allowances for each category, it is important to be sure expenditure is...

Plan Ahead for New Machinery Purchases

Plant & Machinery, Tax

Farmers across the UK are being urged to make sure they take full advantage of the new Annual Investment Allowance (AIA) of £1million which came into force on 1 January 2019 and will remain at that level for 2 years. AIA gives 100% tax relief on the cost of new plant...

Tax Allowances on the Farm

Advice, Business Support, HMRC, Plant & Machinery, Tax

Certain plant and machinery can qualify for what’s known as Annual Investment Allowance (AIA), which allows businesses to claim for the cost of the new asset (up the specified threshold) in the year of purchase. The current Annual Investment Allowance is £200,000 (in...

Changes To Plant & Machinery Annual Investment Allowance

Plant & Machinery, Tax

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...