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Capital Allowances

Date: 20th April 2017 | Post by: HaesCooper | Category: Personal Tax Updates & Information
If you let out a property as a holiday home and meet the right conditions, you can claim capital allowances as a deduction against the rent you receive. But where do you stand if you meet the conditions only some of the time? Letting conditions If you’re lucky enough to own a holiday home which you rent out, you can take...
Date: 20th April 2017 | Post by: HaesCooper | Category: Company Tax Updates & Information
Tax rules allow businesses to claim capital allowances on the cost of equipment. You can also claim tax deductions for installation costs, but how far can you stretch this rule? Plant or machinery? Where you spend money on plant or machinery (PM) for use in your business, the rules say that you can claim a tax deduction...