Businesses are allowed to claim tax relief on purchases of certain assets such as a vehicle or piece of equipment.

Capital Allowances allow you to deduct a proportion of the cost of the asset from your profits before calculating your tax liabilities, potentially yielding significant tax savings.

The nature of the expenditure determines the type of capital allowance that can be claimed and the rate of relief that is available.

The most attractive capital allowances include:

The Annual Investment Allowance (AIA) – 100%
  • Deduct 100% of the cost of the asset in the year of purchase
  • Available to all businesses on investments in plant and machinery (cars do not qualify)
  • The maximum deduction from profits is currently limited to £500,000
First Year Allowance (FYA) – 100%
  • Deduct 100% of the cost of the asset in the year of purchase
  • Available on certain energy and water efficient plant and machinery
  • Can be claimed in addition to AIA

Please contact us to discuss how our expert team of tax advisors can work with you to maximise the impact of capital allowances deductions in your business.

Stuart Barbour CA CTA

Director

More about Stuart

Case Study

Le Bureau

Starting a business can be daunting, there are many decisions that have long reaching consequences. Getting Warrener Stewart involved even before Battersea-based Le Bureau was open for business allowed the owners to choose the right structure for their business.

Client's view

“ My business benefitted enormously from Warrener Stewart’s advice – I had little knowledge of tax and business structure so needed to turn to people to offer me sound business advice. ”

Read the case study

Find out more

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London: 020 7731 6163
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“ Rosslyn Park has always been dependent upon raising funds to achieve what it needed and like any club had to act like a business, moving with the times. ”
Rosslyn Park