Expenses

Capital Allowances

High Value, long-life span items

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:

  • Vans
  • Tools
  • Furniture
  • Machinery
  • Equipment
  • Computers

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.

Please note this material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. 

All claims should be reviewed individually, and we recommend contacting us before you engage in transactions if you are unsure. 
NJB Taxback Ltd

Kemp House
152-160 City Road
London
EC1V 2NX

Opening Hours

Monday to Friday 9am-5pm

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NJB Taxback Ltd

Kemp House
152-160 City Road
London
EC1V 2NX

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