Business News |
|
Capital allowances: buy now to make the most of high rate
If your business is considering investing in new equipment, it is worth doing so whilst the current generous tax allowances are still available.
The Annual Investment Allowance (AIA), a capital allowance which enables business owners to write off a certain amount of their taxable profits against qualifying expenditure, was doubled from £50,000 to £100,000 in April 2010.
However, this is set to be reduced to just £25,000 from 6 April 2012. At the same time, the flat rate of 20 per cent on any expenditure over the AIA threshold will drop to 18 per cent.
At Lamont Pridmore, we would advise businesses wanting to make their investments as tax-efficient as possible to consider bringing forward their capital expenditure while the allowance is still at its current high level.
We can advise you on whether your business qualifies for the allowance, help you raise funds to finance the purchase and then ensure you to minimise the tax payable on your investment.
To find out how we can help you, please contact us.
