Over the past two years, limited companies have been able to claim an advantageous Capital Allowance on qualifying assets, providing tax relief of up to 130%. This super deduction, as it is known, will soon be withdrawn, however. It is only available on qualifying expenditure incurred on or between 1 […]
Repairs and Renewals A distinction is drawn between repairs and improvements when considering if tax relief is available. The general rules are that: Expenditure on restoring an asset to its original state is revenue in nature and so allowable in calculating taxable trading profits; and Expenditure on […]
Despite the turbulent times that have befallen the UK economy over recent years, experts are reporting a positive outlook. The impacts of coronavirus, Brexit and wider supply disruptions may still be taking their toll but businesses, families and property owners can remain confident. In this article, we’ll take a […]
