Capital Allowances 2005 2006

chartered accountants Manson & Partners, dumfries scotland uk (full address)

HOME • SERVICES • NEWSLETTER • CONTACT • LINKS • EMAIL

OUR SERVICES »

audit & assurance
limited companies
accountancy
taxation
business taxation
value added tax
wages and PAYE
IT consultancy
insolvency
trust deeds
business recovery
internal audit
business growth

We are also regulated for a range of investment business activities by the Institute of Chartered Accountants of Scotland.

Tax Data 2005 / 2006

CAPITAL ALLOWANCES

	Writing Down Allowance
Plant and Machinery *	25% #(reducing balance)
Motor Cars **	25% (reducing balance) - £3,000 max
Industrial and Agricultural Buildings and Hotels	4% (straight line)

* For small businesses:
first year allowances (FYAs) of 50% for 12 months from 6.4.04 (1.4.04 for companies). FYAs of 40% from 6.4.05 (1.4.05 for companies).

For medium-sized businesses:
FYAs of 40%.

For all businesses:
100% FYAs on expenditure on energy saving plant and machinery. **100% FYAs on new cars with CO2 emissions not exceeding 120 gm/km until 31.3.08. #6% on certain long life assets.

tax rates & reliefs,
tax credits,
pension premiums,
fuel benefits,
mileage allowance,
ISAs,
corporation tax,
capital allowances,
value added tax,
capital gains tax,
inheritance tax,
stamp duty tax,
national insurance,
social security,
self assessment.

Please contact us if you wish to discuss any matters raised.