New Forest

28/01/2019

Increased Capital Allowances Started 1 January 2019

The Chancellor announced a temporary increase in the Annual Investment Allowance (AIA) for expenditure on plant and machinery to £1 million from 1 January 2019. However transitional rules mean that the full amount will not necessarily apply to your business straight away.

For example, if your business year end is 30 June 2019 the maximum AIA would be £600,000 being 6/12 x the old £200,000 limit plus 6/12 x the new £1 million limit. The following year to 30 June 2020, the business would be entitled to the full £1 million.

For further information on Capital Allowances, please contact Michaela Johns on 023 8046 1256.

Latest Tweets

The Government has updated its information about the Eat Out to Help Scheme and you can get more help with registration, eligibility and how to offer the discount for the Scheme here:

https://lnkd.in/gR6yEMX

Job Retention Scheme Bonus.

More details to follow on 30.9.20, can claim if wages over £520 a month on average between the 1 November 2020 and 31 January 2021. Claim in Feb 2021. It is taxable and should be shown as income.
https://lnkd.in/gRWX3A5

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