Capital Allowances

 

2020 - 21

2019 - 20

Plant and Machinery

-       Main writing down allowance

-       Long life assets, integral fixtures

-       First year allowances (certain environmentally efficient products)

18%

6%

100%

18%

6%

100%

 -      R&D tax credits SME scheme

-       R&D expenditure credit

-         Structures and buildings allowance

-       Annual Investment Allowance (AIA)

 

230%

13%

3%

 

 £1,000,000

230%

12%

 2%

  

£1,000,000

The AIA has been temporarily increased to £1 million from 1 January 2019 to 1 January 2022.

Cars

-       New and unused, CO2 emissions are 50g/km or less (or car is electric)

-       New and unused, CO2 emissions are between 50g/km and 110g/km

-       Second hand, CO2 emissions are 110g/km or less (or car is electric)

-       New or second hand, CO2 emissions are above 110g/km

* From April 2021, the 100% allowance is only for new electric and zero emission vehicles. The 18% rate will apply to other cars with emissions up to 50g/km and the 6% rate for all other cars.

 

100% FYA

 18%

  18% 

6%

 

100% FYA

18%

18%

6% 

 

 

Disclaimer

In preparing and maintaining this section of our website every effort has been made to ensure the content is up to date and accurate. However, the law and regulations change continually, and unintentional errors can occur, and the information may be neither up to date nor accurate. We make no representation or warranty (including liability towards third parties), express or implied, as to the accuracy, reliability or completeness of the information on the website. Please don’t act directly on anything you read - contact us first for advice on how it may affect your individual circumstances.

 

Contact Us

Foster Knight

DC Business centre
10 Charles Wood Road
Rashes Green Industrial Estate
Dereham
Norfolk
NR19 1SX
 
Tel:01362 851718

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