The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:
Expenditure on some types of plant or machinery must, if neither annual investment allowance (AIA) nor first year allowances (FYAs) are available, be allocated to a ‘special rate pool’. Such expenditure qualifies for a lower rate of writing down allowances at 6% per annum. This rate was 8% before 1 April 2019 (corporation tax) and 6 April 2019 (income tax).
Expenditure to be allocated to the special rate pool consists of expenditure incurred on:
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