Capital Allowances
Plant and Machinery:
| Energy saving and environmentally beneficial equipment, zero and low CO2 emission (up to 110 g/km) cars, new zero emission vans, natural gas/hydrogen refuelling equipment: first year allowance (FYA) | 100% |
| Annual investment allowance (AIA) – on first £100,000 of investment (excludes cars and other expenditure already qualifying for 100% FYA). * See note below. | 100%† |
| Writing down allowance on expenditure not qualifying for AIA or FYA: | |
| Long-life assets, integral features of buildings, cars over 160g/km | 10% |
| Other plant and machinery | 20% |
| Enterprise Zone allowance, conversion of parts of business premises into flats, business premises renovation: max initial allowance | 100% |
* NOTE - There has been an announcement from the Economic Secretary to the Treasury that the government intends to close a loophole which allowed business to accelerate capital allowances claims for plant and machinery and obtain advantageous early tax relief - see latest news item, Government closes capital allowances loophole.
† Transitional rules may apply