The way in which relief for capital expenditure is given depends on the way in which the accounts are prepared. For companies, and for sole traders and partnerships not eligible to use the cash basis, accounts must be prepared using the traditional accruals basis. Under the accruals basis, a deduction is not permitted for capital…
December 10, 2019 Gold Stag Accounts
- Chancellor extends furlough scheme until October
- Should I buy a rental property through a limited company?
- Calculating taxable profits using the cash basis
- Deferring your state pension
- Self-employed invited to get ready to make their claims for coronavirus (COVID-19) support
- VAT is scrapped for digital publications
- New 100% government backed loan scheme for small businesses
- Changing a will after death
- Annual investment allowances
- Take advantage of interest-free loans
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Ensure you take advantage of the AIA when buying plant, machinery or equipment. This gives you 100% relief on the purchase of assets (subject to limits). This scheme has the potential to save up to 50% of the investment in tax depending on your circumstances We can advise and make sure you are taking full advantage
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