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Most small businesses have to pay business rates as a contribution to the cost of services provided by local authorities.
A guide to Tax Allowances for Capital Expenditure
Capital expenditure on assets such as computers and other equipment is a major cost to most businesses, but is not directly allowable as a tax-deductible expense.
However, tax relief on this type of expenditure is available through capital allowances.
By understanding how capital allowances are calculated and when they are available to a business, it is possible to achieve tax savings, thereby offsetting the high cost of buying assets for the business.
This factsheet provides an introduction to the tax relief available when buying assets, and how it is calculated.
Tax legislation is a complex area and this information is intended only as a starting point for understanding the issues involved. Professional advice should always be sought before making business decisions regarding tax.
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