Capital allowances – a few tricky points. By Rebecca Benneyworth
The new capital allowances regime is now in full swing, but there are a few aspects of the regime which are likely to provoke problems in practice. Here is a guide to some of the more tricky points.
Five little days
The new regime applies to expenditure on or after the relevant day. In corporation tax this is 1 April 2008, in income tax, however, it is 6 April 2008.