What is Annual Investment Allowance?
AIA can provide tax relief for qualifying plant and machinery costs up to the applicable limit. The claim is made through the relevant tax return.
Check the asset
Review whether the expenditure is plant and machinery, whether it is used for the business and whether exclusions or private use affect the claim.
Keep records
Retain supplier invoices, purchase dates, asset descriptions, business-use evidence and the calculation supporting the claim.
Official sources.
Check the current guidance before you rely on a rate, threshold, deadline or relief.
Need help reviewing investment expenditure?
Swift Accountancy can organise the asset records and discuss the tax treatment for qualifying business investment.
Discuss investment expenditure