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
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