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Capital Allowances

When you buy a fixed asset you can off set the cost of this asset against your profits by claiming capital allowances.

There are varying rated of capital allowances ranging from 4% for buildings to 100% annual investment allowance.

The annual investment allowance was introduced in April 2008. This allows the first £50,000 of qualifying capital expenditure to be written off against profits in the year in which the cost was incurred.

Capital allowances are a complex area. Often the services of an accountant are needed to work out the capital allowances.

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