Planning on purchasing equipment for your business? Do it now !

There are substantial reliefs available for organisations that spend money on various items of equipment. These are generally known as Capital Allowances.

Capital Allowances are available to sole traders, self-employed persons or partnerships, as well as companies and organisations liable for Corporation Tax.

The current capital allowance regime is to be changed from April 2012 to pay for future cuts in corporation tax.

The Annual investment allowance is an allowance where Businesses can claim for capital expenditure incurred on most items of plant and machinery , including .integral features. (but not business cars), up to a maximum of 100% relief. From April 2012, the allowance currently at £100,000 is scheduled to fall to £25,000.

Businesses can significantly reduce the cost of investing in new assets before the reduced allowances take effect.

So if you have plans to invest in your business next year you may want to think about pushing forward the expenditure to this tax year to maximise your allowances.

This week I am looking to speak with Directors of new start up companies

Mitch Young from Lerman Jacobs Davis helping you and your business to count!

mitch@ljd.uk.com