Does your business need new kit and equipment?
As mentioned previously most recently in our article here there is currently a very generous regime for tax relief on the purchase of new kit, commercial vehicles, fixtures and fittings and the like.
This regime means that until 31 December 2015 (subject to any changes in the two Budgets pre and post election we expect this year) there is a potential tax allowance of £500,000 available for such purposes.
From 1 January 2016 it will be £25,000! Quite a drop!
Victoria Bishop, robinson+cos Tax Partner, says If you wish to take advantage of this allowance it is very important that you talk to us first. The full availability of the £500,000 is dependent on timing and the interaction of your accounting period end with 31 December 2015. We can plan with you to arrange maximum tax advantages but only if you tell us first.
Victoria continues It is important to note that, although commercial vehicles are included in the allowance, cars are not.
If you have any queries, do not hesitate to contact Victoria on 01900 603623 or victoriabishop@robinsonco.co.uk. Alternatively please speak to your normal robinson+co contact, or click here to leave a message.
