Time running out for extra tax breaks on business assets

Many businesses could soon miss out on the opportunity to claim early tax relief as they are not aware of major changes from next year. The Annual Investment Allowance (AIA) is a form of enhanced tax relief, permitting a 100% write-off on the purchase of qualifying business assets (normally the tax relief against asset purchases is 18% or 8%, depending … Read More

AIA tax relief up to £250,000 – use it or lose it!

Many businesses are still unaware that they could be claiming tax relief on up to £250,000 worth of asset expenditure and are missing out on an easy way of reducing their tax bills, warns Julia Whelan, tax partner at Curo Chartered Accountants. The Annual Investment Allowance (AIA) was increased to £250,000 with effect from 1 January 2013 and will reduce … Read More

AIA – spending sprees in the new year?

The Chancellor announced last week that the Annual Investment Allowance (AIA) would be increased from 1 Jan 2013 to £250k par annum for two years. Given the current AIA is currently only £25k, this was somewhat of a nice surprise amid an otherwise rather gloomy Autumn Statement. So, depending on the year end, from 1 Jan 2013, businesses can claim … Read More