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

Meon Valley Travel Ltd

Working in association with Warrener Stewart from the start of his company Meon Valley Travel, entrepreneur James Beagrie has developed a highly successful business. With their ongoing support and strategic business advice the agency has twice been awarded best travel agency.

Client's view

“ As a business owner I encourage all my employees to be the best that they can be; I ask nothing less of my accountants. I run a successful business, safe in the knowledge that Warrener Stewart has got my back. ”

Read the case study

Find out more

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London: 020 7731 6163
Edinburgh: 0131 287 8299
info@warrenerstewart.com 

“ Warrener Stewart understands our business; they give us more than any other Accountancy service we have ever received in the past. They are extremely commercially aware and very current when it comes to changes in tax policy. ”
Diana Hoare – Anderson Hoare