Many common business assets such as office equipment, furniture, machines, vehicles or large tools may be considered for capital allowance purposes.
This may be a far more tax-efficient method of claiming tax relief on such purchases and may even allow you to write off the total amount as a capital allowance in the first year.
Some common examples of capital allowance items include:
The criteria on what does and doesn’t count as a capital allowance are complicated, and we always recommend seeking professional advice before engaging in any such transactions.
In most cases, capital allowances may be considered for purchases that cost over £2000 and have an expected business lifespan of more than two years.
NJB TAXBACK Ltd.
124 City Road
London
EC1V 2NX
NJB TAXBACK Ltd.
Penstranze Business Centre
Truro
Cornwall
TR4 8PN
Monday to Friday 9am-5pm
124 City Road
London
EC1V 2NX
Penstranze Business Centre
Truro
Cornwall
TR4 8PN
Monday to Friday 9am-5pm
Registered in England & Wales | Company Number 11373381 | ICO Registration Number A8255161 | HMRC AMLS XRML00000190406