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.
‘Bold and unprecedented’. That was the Chancellor’s description of the new 130% super deduction for plant and machinery announced in the Budget. But, when you look at the detail, how does it really stack up against the usual rules on capital allowances?
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.
The end of the EU Common Agricultural Policy in the UK is set to bring huge changes to the farming sector. Now is a great time to review your plans for the future of your agricultural business, and think about how you will achieve them. Here, we look at the tax advantages of partnerships and why the timing of big business decisions is so important.