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Capital Allowances
The cost of purchasing capital equipment in a business is not a tax-deductible expense. However, tax relief is available on certain capital expenditure in the form of capital allowances.
The allowances available depend on what you're claiming for. In this factsheet we give you an overview of the types of expenditure for which capital allowances are available and the amount of the allowances.
Areas included are:
Plant and machinery
Acquisitions
Pooling of expenditure and allowances due
Structures & Buildings Allowance
Special rules for cars
Acquisitions from April 2018
First year allowances for business cars from April 2021
Non-business use element
Environmentally friendly equipment
Short life assets
Long life assets
Other assets
Claims
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