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...
Advice, Business Support, HMRC, Tax
When carrying out extensive repairs to maintain their premises a farmer may assume that, without question, these repairs will be offset against the business income received thus reducing the tax bill for the applicable accounting period. HM Revenue and Customs...