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Capital allowance is the deduction available to UK tax payers while computing taxable income. In UK, depreciation is not an allowable expense and its place is taken by capital allowance. [...]

In other articles we have seen that when a disposal event occurs, taxpayers are subjected to a balancing charge or allowed a balancing allowance. A balancing charge involves charging back [...]

Capital allowances are the amounts allowed to be written off as expenses when you incur long-term capital expenditure. You cannot write off the entire cost of long-term assets (that will [...]

Most of us would like to save on the taxes that we pay to the government. Businesses pay taxes on their business profits. By reducing the amount of profit that [...]

The Government announced that it would be clamping down on the ‘aggressive’ tax avoidance schemes being used by some large firms, who rent machinery and then claim excess tax relief. [...]

The Finance and Leasing Association (FLA) is calling on the Treasury to extend tax relief on energy efficient equipment to the asset finance sector. The association believes that the extension [...]

Every time a commercial property owner spends money buying or improving it, there is a strong chance they can offset that expenditure against profits or general income for tax purposes [...]

Up to late 19th century (1878 to be precise) there were no capital allowances. In 1878, a “wear and tear” allowance was introduced for traders in plant and machinery by [...]