Unlike most other tax deductions you can choose whether or not to claim capital allowances. So if your company has made a loss, you may think it’s not worth the effort. But is that the right choice?
Published 05.02.2010
Whether an expense is capital or revenue determines how soon it qualifies for a tax deduction, and possibly if it qualifies at all. What does HMRC’s updated toolkit say about tax relief for the cost
of repairing a newly acquired asset?
Published 21.09.2016
J D Wetherspoon’s battle over equipment installation costs has ended with the Taxman coming out on top. But it wasn’t all one way traffic. We spotted a couple of tax planning tips in the fine print.
What are they?
Published 05.03.2012
If you need to buy some new equipment for your business but your company’s financial year-end is fast approaching, how can you make sure you get the earliest tax deduction possible for this
expenditure?
Published 15.10.2009
If you buy equipment for use in your business you’re entitled to claim a tax deduction for the cost. But who can claim the deduction if the equipment is shared by two or more businesses?
Published 03.12.2015
When you buy a business premises you can decide with the seller how much of the price relates to fixtures and equipment which tax deductions can be claimed for. But how can you be sure you’re
claiming all you’re entitled to?
Published 09.03.2010
As the director shareholder of a company you can choose to personally buy equipment for your business or do it through your company. The tax consequences of each differ. What’s the best option for
you?
Published 13.10.2017
There are special rules which allow you to claim tax relief on the cost of equipment. But if all you have is a pile of raw materials to make and install the equipment, are you entitled to any tax
deduction at all?
Published 11.07.2012
Nothing lasts forever, but with timely repairs you can extend the life of machinery and other equipment used in your business. However, getting a tax deduction for the repair cost isn’t always
straightforward. What’s the problem?
Published 05.02.2019
HMRC recently updated its toolkit on the different tax treatment of capital and revenue expenses. But what it doesn’t tell you is that some capital costs are never tax deductible. How can you improve
your chances of qualifying?
Published 16.07.2013