Unveiled in the Spring Budget, full expensing is the highlight of what the government calls its new ‘capital allowances offer’. But what is it? And will it benefit your business?
The enhanced Annual Investment Allowance (AIA) and super-deduction come to an end on 31 March 2023. What might the government’s future plans for capital allowances be?
Maximising the tax benefit from capital expenditure is often a balancing act of different considerations. Timing, in particular, can be key to getting the best outcome. Here are two deadlines to bear in mind if you have imminent plans for capital spending.
In his Budget speech, Chancellor Rishi Sunak announced a new ‘super-deduction’ for companies that invest in qualifying new plant and machinery between 1 April 2021 and 31 March 2023. But what does that mean in practice? Put simply, for every pound a company invests, their taxes will be cut by up to 25p.
Businesses which invest in energy-saving plant or machinery may be able to save tax by taking advantage of an HMRC tax break.