The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:
The AIA gives a 100% first year allowance for investment in plant and machinery (excluding cars). It is intended to encourage greater levels of investment by reducing the costs of capital.
The maximum amount of relief available is based on an annual expenditure limit. The amount of this limit has fluctuated in recent years as shown in the following table:
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