Plan the timing of purchases of new plant and machinery in order to maximise the benefit of the annual investment allowance. All businesses can deduct against taxable profits the full cost of the first £250,000 spent on plant and machinery (other than cars) each year, but only for the period 1 January 2013 to 31 December 2014. Where more than £250,000 is spent, the excess will attract writing down allowances at 18% or 8%. Be warned that after 31 December 2014 the limit could drop back to the pre-increase figure of £25,000.
Posted on: Sat, 25 Jan 2014 09:44:03 +0000
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