Plan Ahead for New Machinery Purchases

Plan Ahead for New Machinery Purchases

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...
Are You Making the Most of Capital Allowances?

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...
Tax Allowances on the Farm

Tax Allowances on the Farm

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

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...
Changes to Annual Investment Allowance from January

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...