12 days of tax tips – Day 2
If you are planning a capital investment for your business, you may be used to the Annual Investment Allowance being £25,000 or £250,000 depending on the time of the investment .
The annual investment allowance changed in April 2014, and the value is now standing at £500,000 until 31st December 2015. That new print room you’ve been thinking of replacing may now be worth it as you could get the whole lot as a tax deduction. However, check with your accountant as to what is qualifying spend.
Sorry, the new Lamborghini Aventador LP 700-4 with a recommended price from £260,040 is not allowable for the Annual Investment Allowance. (I know this is not a picture of the car !)
Always talk to your accountant before acting on any advice. If you’d like to talk to us about your accounting requirements, please complete the contact form >>>> HERE <<<< and we’ll get in touch.