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

FairyLoot

In 2016, Anissa and her Partner Michael founded FairyLoot, a premier fantasy book subscription service based in Chelsea. Driven by Anissa’s passion for fantasy literature, they created a global community of book enthusiasts.

Client's view

“ Warrener Stewart’s personal service and commitment to our business needs stand out. They tailor their advice to our specific requirements and are always responsive. Their dedication and flexibility are greatly appreciated. ”

Read the case study

Find out more

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London: 020 7731 6163
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James Beagrie – Meon Valley Travel Group