Someone mentioned a capital allowance
claim that I may be able to make.
For example, under the present capital allowance
system a car bought for pounds 25,000 and sold in year five for pounds 5,000 will generate pounds 20,000 capital allowances
for the company over a five-year period.
We also consider in detail the new capital allowance
regime, the UK Treasury's reduced corporation tax rate following the recent Budget and other major recent changes.
He added: "This month the proposed rise in capital allowance
, and the new Wales Economic Growth Fund, should both come into play, and will hopefully lead to greater investment within Wales and help businesses plan for their long-term future.
ii) Enhanced Capital Allowance
- 100% relief on qualifying plant and machinery to offset against corporation tax invested before April 2017.
Mr Briggs also urged the Government to re-consider proposed changes to the capital allowance
In the UK, the chancellor dropped the 100 per cent capital allowance
for IT bought by small business (those with a turnover of 5.
John Hodgson, corporate tax partner at the firm's Coventry office, said: "Four years ago, the Chancellor introduced a valuable 100 per cent capital allowance
on ICT expenditure to encourage small businesses to invest in new technology.
We increasingly find that clients appreciate the close working relationship we have with other Deloitte colleagues, such as our capital allowance
, tax and consultancy colleagues.
SMALL businesses have been encouraged to make the most of their 100 per cent first-year capital allowance
for computer hardware and software.
So far only the enterprise zone in Flintshire has been confirmed as being in receipt of enhanced capital allowance
That would have been worth up to pounds 275,000 per business over a five year period, but there is also Capital Allowance
Enhancement, which is targeted at larger sites, and Tax Increment Finance (TIF) which allows future gains in taxes to be used to fund current improvements.