Client is a self-employed private hire driver (slightly less than a taxi), owner driver, bought a Mercedes for 28k, 158G/KM, expected to use 5 years.
The annual investment allowance (AIA) is a sensible tax incentive that manages to combine a measure of tax simplification with real cash flow advantages.
The government’s convoluted stance on the annual investment allowance means that it is able to win favourable headlines for helping businesses with tax relief on capital expenditures up to £200,000
I initially thought car, until my client told me the vehicle is specifically used to tow a hoist lift into London for work. He used to use a Van, but found it difficult to use with the hoist lift
My client, a company, spent heavily on plant and machinery in calendar year 2013 giving rise to a substantial loss after claiming maximum AIA.
My client is a sole trader who has recently become a limited company. He has gifted his assets (tools &equipment) totalling £1900 to the company. How should I account for theses gifted assets?
There wasn’t a lot to get small business owners excited in today’s Budget, says Nigel Harris.
For the purposes of determining whether two companies are under common control and therefore must share the AIA (assuming they are also 'related' for these purposes) do you attribute the rights of