News

Increase In Annual Investment Allowance To 250,000K From 1st January 2013

Posted at 08:56 on Wednesday 5th December 2012

“Instead of a £25,000 cap on capital allowance relief, we are raising it to £250,000,” announced The Chancellor, George Osborne. ...

Capital Allowances changes within the Autumn Statement 2012

Posted at 03:20 on Friday 30th November 2012

How much longer can George Osbourne hold out in keeping the ‘Writing Down Allowance’ (WDA) and ‘Annual Investment Allowances...

Parliament Extract 22nd November 2012

Posted at 03:20 on Friday 23rd November 2012

Parliament Extract 22nd November 2012 John Leech (Manchester, Withi...

Head Of CBI Supports Capital Allowances

Posted at 02:18 on Friday 16th November 2012

The CBI director general John Cridland agrees that the Annual Investment Allowance amount should be increas...

2012 Autumn Statement: Osborne to address MPs on 5 December

Posted at 08:57 on Monday 12th November 2012

Every year The Chancellor uses the annual statement to update MPs on the state of the economy in Parliament. This year’s update will be given on 5th Decembe...

HMRC's 'Rent A Room Scheme'

Posted at 06:21 on Monday 12th November 2012

Thanks to Moira H Brodie from Swindon. Who commented in the telegraph on 10th November 2012 that "HMRC's rent a room scheme allows one to earn £4,250 a year tax free from letting out furnished accommodation in the family home. ...

The new website for Government - www.gov.uk

Posted at 04:16 on Tuesday 30th October 2012

A major new official site has been launched by the Government. The site, www.gov.uk, will eventually take over from the HMRC site. Ac...

Statistics for Capital Allowances claims provided as a Written Answer in Parliament

Posted at 04:15 on Tuesday 30th October 2012

 Statistics have been released for the total numbers of capital allowances claims made in the UK by companies in the three years ending 31 March 2011.  Around 900,000 companies make some sort of capital allowances clai...

The Janitor Cleaning Company v HM Revenue & Customs (2012) - Not all capital expenditure qualifies for capital allowances

Posted at 04:07 on Tuesday 30th October 2012

 A recent case acts as a reminder that not all capital expenditure qualifies for capital allowances. The taxpayer had mad...

Act now to utilise the 100k AIA

Posted at 02:23 on Monday 15th October 2012

If you still do not know, the 11/12 tax year is the final year that the £100,000 annual investment allowance has effect for purchases of Plant &...

Don't Lose Out - Time Is Running Out For Holiday Home Tax Relief

Posted at 02:18 on Monday 15th October 2012

Owners of Furnished Holiday Lets anywhere in the EEU must act fast.  Imminent changes to valuable tax allowances mean that they should act now to offset losses potentially worth...

Predicted Business Growth of 0.5% in Q3

Posted at 04:15 on Tuesday 2nd October 2012

Businesses are predicting GDP will have grown by...

George Osborne MP, Chancellor Of The Exchequer Announces Extension Of North East Enterprise Zone

Posted at 02:26 on Monday 24th September 2012

The Rt Hon George Osborne MP, Chancellor of the Exchequer announced a major addition to the amount of land in the NE LEP area to benefit from c...

Many economists think George Osborne needs a Plan B - Can Capital Allowances help revitalise small and medium sized businesses?

Posted at 06:45 on Monday 3rd September 2012

There is no doubt that since the crash of 2007 when the UK entered a financial and economic crisis, that we still have not recovered.  It has seen the biggest fall in output since World War II and a double dip recession; onl...

HMRC Brief issued on Capital allowances - fixtures and sampling as a basis for a claim

Posted at 06:44 on Monday 3rd September 2012

This consultation invites comments on draft revised guidance explaining sampling as a basis of a