From April, the capital allowances
that can be claimed on company cars are to be based on vehicle emissions.
An ECA also provides upfront tax relief, enabling businesses to claim 100% first-year capital allowances
against their taxable profits.
The report said the hotel sector looked to be on the mend and maintained that the growth this year was in part due to the decision by Finance Minister Charlie McCreevy to extend the expiry date of Hotel Capital Allowances
And Expenses For Certain Road Vehicles
Matt Sharpe will add senior-level experience to EY's wider tax business in the North East and develop the firm's real estate tax advisory practice, while Paul Hindson will lead the capital allowances
practice in the region.
Reforms outlined in the Finance Bill 2012 and taking effect in April will change the qualifying criteria for businesses to claim capital allowances
on properties that they own or have significantly improved.
Au1m government contract will see company manage the list of energy efficient technologies that qualify for Enhanced Capital Allowances
aspx Capital allowances
of 100% are also available to businesses choosing to invest in water or energy saving equipment.
As part of his Autumn Statement the Chancellor handed out a one per cent reduction in corporation tax as well as restoring and enhancing capital allowances
for investment in plant and machinery.
The capital allowances
and various incentives could make the difference for investors.
Additional topics covered include self-assessment, trading profits, loan relationships, capital allowances
, loss relief, intangible fixed assets, group chargeable gains and liquidations.
In November, the Chancellor announced plans to change the capital allowances
system for business expenditure on cars, with effect from April 2009.