Looking for a way to reduce your tax bill? Mystified by tax allowance rules? There’s a simple way you can pay less tax – while adding tangible assets to your business.
Take advantage of your Annual Investment Allowance (AIA), spend up to £50,000 on plant and machinery (including vans), and write off this expenditure against your taxable profits. Anything that you spend on your qualifying purchases can be written off, up to the AIA limit.
What’s more, for the current tax year only, the Government has introduced a first year allowance of 40% for any qualifying expenditure over the £50,000 AIA. So if you use up your AIA, you can still write off 40% of anything you spend over the £50,000 AIA threshold!
But don’t delay, as these tax allowances only apply during the current tax year. Act before the
end of March 2010 so you don’t miss out.
Find out more about this special offer -
brian.slack@mercedes.co.uk