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  • Tips & Advice Tax - 2018 Budget - the small print
    As usual, the more interesting Budget changes didn’t feature in the Chancellor’s speech but in the documents produced by HMRC. What important changes might you have overlooked?
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  • Tips & Advice Tax - AIA gets a boost
    AIA gets a boost..Annual allowance. A tax deduction for the cost of machinery and equipment of up to £200,000 per year is allowed for the accounting period in which the expense was incurred rather than (under the normal rules) over many years. Where the accounting period in which you purchase the machinery etc. is more or less than a year, the annual investment allowance (AIA) is proportionately reduced or increased. Temporary increase. The Chancellor announced a temporary increase in the AIA to £1 million...
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  • Tips & Advice Tax Pro - Is it too late to claim allowances for older years?
    You have just taken on a new client who says that his previous accountant has missed claiming the annual investment allowance previously. He’s asked you to prepare a claim for overpayment relief, but is this the right way to proceed?
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  • Tips & Advice Tax - The AIA and multiple accounting dates
    Your company is planning significant purchases of new equipment. The trouble is it’s part of a group which can affect the amount of annual investment allowance (AIA) it can claim. How can you be sure not to exceed the maximum?
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  • Tips & Advice Tax - How much AIA can you claim?
    You’ve just spent £2,900 on a high-end PC for your home office on a buy-now-pay-later contract. Your family will make some use of it and your company will pay a contribution to the cost. What tax allowances can you claim and when?
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  • Tips & Advice Tax Pro - What is our annual investment allowance?
    The annual investment allowance (AIA) changed from 1 January 2016. Companies which have accounting periods straddling this date may wonder how the old £500,000 limit and new £200,000 limit apply. How is this worked out, and are there any traps to watch for?
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  • Tips & Advice Tax - Annual investment allowance - selling equipment
    A few years ago you bought some equipment and claimed the annual investment allowance, which you adjusted to account for non-business use. Now that you’ve sold it how does an odd loophole affect the tax payable on the proceeds?
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  • Tips & Advice Tax - Optimising the allocation of capital expenditure
    Where, after December 2015, you purchase plant or equipment, a restricted annual investment allowance (AIA) might apply. So how should you allocate it to obtain tax relief in the shortest possible time?
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  • Tips & Advice Tax - Avoiding the AIA transitional trap
    Where your business’s financial year spans 1 January 2016, the annual investment allowance (AIA) it’s entitled to can be significantly lower than the maximum. How can you work around this to speed up tax relief on purchases?
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  • Tips & Advice Tax - AIA increases - but there’s a trap
    The annual investment allowance (AIA) is to be permanently set at the generous level of £200,000 from 1 January 2016. But businesses with accounting periods straddling that date need to plan purchases of equipment carefully, why?
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