Tax Allowances for Caravans Used in the Business

Tax Allowances for Caravans Used in the Business

We originally published this post on caravans used in the business on 21 June 2017 and updated it on 8 May 2024 for freshness, accuracy, and comprehensiveness. You can claim tax relief, known as capital allowances, for plant and machinery that you keep to use in your...
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...
Budget 2018: What you need to know

Budget 2018: What you need to know

We are delighted to bring you our summary of the key announcements in the Budget 2018 statement, made on Monday, 29 October. The personal allowance will be raised to £12,500 from April 2019, one year earlier than previously planned. At the same time, the higher rate...
Considering Enhanced Capital Allowances

Considering Enhanced Capital Allowances

Businesses which invest in energy-saving plant or machinery may be able to take advantage of an additional tax break. Capital expenditure is covered by the Annual Investment Allowance (AIA), which gives full tax relief for capital expenditure in the year of purchase,...
New Rules on Capital Allowances and Cars

New Rules on Capital Allowances and Cars

The tax treatment of cars under the capital allowances system changed with effect from 1 April 2018. The new rules are likely to have a significant impact on many businesses. Here we consider the changes in more detail. ‘Capital allowances’ is the term used to...