Chartered Management Accountants | Milton Keynes
Assets will be dealt with either in a main rate pool, a special rate pool or a single asset pool.
|Main rate pool (plant and machinery and cars emitting less than 50g/km C02):|
|New expenditure up to £1m (not cars) – applies from 1 January 2019 to 31 December 2020||100%||2|
|Unrelieved expenditure brought forward: writing-down allowance||18%|
|Special rate pool (long life assets, integral features and cars emitting more than 110g/km C02):|
|Unrelieved expenditure brought forward: writing-down allowance||6%|
|Enterprise zones – detailed restrictions apply||100%|
|Energy efficient and environmentally beneficial technologies (ECA)||100%||4|
|Acquisition installation of new and used electric vehicle charge points||100%||7|
|Brand new cars emitting less than 50g/km CO2||100%||5|
|Structures and buildings (straight line). This allowance commenced 29 October 2018||2%|
|Writing-down allowance: cars|
|51g/km – 110g/km||18%|
|Expenditure on the construction of structures and buildings: flat rate||2%||8|
|Research and Development (R&D) relief for SMEs||230%||6|
|SME cash credit for R&D loss surrendered||14.5%|
|Research and Development (R&D) relief for non-SMEs||12%||&|
|Commercial/industrial buildings in an enterprise zone (EZA)||100% of building cost|
Enhanced capital allowances (ECAs) in Enterprise Zones
100% capital allowances are available on plant and machinery investment made in designated areas of the London Royal Docks Enterprise Zone, three Scottish Enterprise Zones in Irvine, Nigg and Dundee, Humber and Deeside in North Wales. These allowances are available, but there are some restrictions on which businesses may claim them, to ensure that the allowance is targeted at new economic activity for which new additional plant and machinery is purchased.
We will address some crucial points on this guide, such as the taxes that need to be paid by landlords and tax-effective property ownership.
We share with you the top tips and tricks to ensure that filing the annual self-assessment form becomes as stress-free for you as possible!