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

BJS BioTech

Expanding a family business does not often result in complete diversification. When one highly respected electroplating company started up a new company, Warrener Stewart helped them to decide upon a different ethos and new company model.

Client's view

“ Warrener Stewart has grown with us; they have been quick to provide more services as the need arose. I like the fact that they have been straight and trustworthy and appreciate our business aims, looking to help us rather than imposing their ideas upon us. ”

Read the case study

Find out more

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

“ We were so impressed at their quick response times and ability to resolve even the most complicated financial problem. ”
Pen Hadow