I remember Gordon Brown bringing in a 100% capital allowance for hi tech capital goods. Does that still apply for the tax return for the year ended
5/4/2004? Or is it back to 25% at that time?
5/4/2004? Or is it back to 25% at that time?
Computer related assets - 100% capital allowance?
Jan 26, 2005
5 Replies
5/4/2004? Or is it back to 25% at that time?
"To encourage innovation, investment and training by small businesses, Budget 2003:
extends 100 per cent first-year capital allowances for information and communication technology until 31 March 2004, to encourage up to 3.7 million businesses to invest in information technology and succeed in the knowledge economy;"
or just call it revenue expenditure.
Phil
"Jon" wrote
I believe it ended for goods purchased after 31/3/2004.
"Jon" wrote
Wouldn't it be 40% rather than 25% ?
Err Phil I presume that is a joke, you are going to bring a whole heap of trouble down on your head by posting capital items as revenue, they tend to SOLAST.
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40% first year allowance (if claimed) then 25% of decreasing balance
Phil
And only claim it if it reduces your tax over the medium term.
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