Commentary

B5.118A Farming and enhanced capital allowances

Business tax
Business tax | Commentary

B5.118A Farming and enhanced capital allowances

Business tax | Commentary

B5.118A Farming and enhanced capital allowances

A temporary enhanced capital allowances measure temporarily introduce increased reliefs for expenditure on new plant and machinery by limited companies. For qualifying expenditure incurred from 1 April 2021 up to and including 31 March 2023, companies can claim in the period of investment:

  1.  

    •     A super-deduction providing allowances of 130% on most new plant and machinery investments that ordinarily qualify for 18% main rate writing down allowances

  2.  

    •     A first-year allowance (FYA) of 50% on most new plant and machinery investments that ordinarily qualify for the 6% special rate writing down allowances

The FYA allows

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial