Your company is on track to post a small loss in its current financial year. In view of this, what’s the most tax-efficient way for it to claim allowances for the expenditure it incurred on new
equipment?
Published 09.04.2018
Last month, the annual investment allowance was drastically cut from £100,000 to £25,000. Worse still, if you don’t time the purchase of equipment right you’ll lose out by even more. What is this
trap and how can you avoid it?
Published 14.05.2012
Your accountant has suggested transferring your business to a limited company to save tax and NI. While you’re leaving the red tape up to her are there any steps you can take to make the transfer
even more tax efficient?
Published 08.07.2021
Our subscriber acquired two second-hand cars which he renovated for use in his business. He thought he would get immediate tax relief for the renovation costs but his bookkeeper says special rules
mean it will be spread over many years. Is that correct?
Published 03.12.2021
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
Within limits, businesses are entitled to tax relief on equipment for the financial year in which they purchase it. However, purchases through HP and similar contracts are exceptions to this rule.
How can you ensure the earliest tax relief for these?
Published 27.06.2023
You bought used machinery from another trader who agreed to accept payment over six months. Most of the cost falls into your next financial year, but as you’re already using the machinery can you
claim the tax deduction now?
Published 13.06.2019
You’ve just spent £2,900 on a high-end PC for your home office on a buy-now-pay-later contract. Your family will make some use of it and your company will pay a contribution to the cost. What tax
allowances can you claim and when?
Published 07.07.2016
Tax relief in the form of capital allowances (CAs) for expenditure on equipment often goes begging or is delayed because it’s overlooked or not claimed at the right time. What steps can you take to
improve tax efficiency?
Published 29.11.2023
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