Email: info@taxreturn.co.uk



Please find below details of the new tax rates and allowances

which are applicable for the year commencing April, 2016.


Please do not hesitate to contact us if you would like further information

or you wish to discuss any of the tax rates or allowances in more detail.


                                 

Capital Allowances

Plant and Machinery:

Investment for use in Enterprise Zones, energy saving and environmentally beneficial equipment, new zero-emission goods vehicles, low CO2 emission (up to 75g/km) cars, natural gas/hydrogen refuelling equipment: First year allowance.

100%  
Annual investment allowance (AIA) - on the first £200,000 of investment
(excludes cars and other expenditure already qualifying for 100% FYA)

100%*
Writing down allowance on expenditure not qualifying for AIA or FYA:  
    Long-life assets, integral features of buildings, cars over 130g/km 8%
    Other plant and machinery 18%
Business premises renovation: max initial allowance 100%  


* Transitional rules may apply

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