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100% tax relief on capital spend

The annual investment allowance that delivers 100% tax relief on qualifying capital costs – plant, machinery, fixtures and fittings, etc is being hugely increased.  From 1 January 2013 the annual relief will stand at £250,000.  This is a massive increase and will enable businesses substantially to reduce taxable profits.

Just one word of warning the relief is pro rata’d over accounting periods so it may take a while for your business to receive the full relief.

 

 

Date: 5th December, 2012
Author: Cathy Corns

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