capital allowance for first year 05/06

System
System Posts: 100,537 🤖 Admin 🤖
edited June 9 in AAT member discussion
hi when i sat my exams last year when we worked out the allowance it had changed to being 50% for the year 04/05.

can anyone please tell me what the allowance is for this tax year 05-06?? is it still 50% or has it gone back to 40%? my accountant says it is 40% but i thought they had only just changed it to 50% last year.

please help clear this up for me thanks

Comments

  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:capital allowance for first year 05/06

    Hi Tigercat,

    Capital allowances reverted back to 40% for plant and machinery purchases made after 31st March 2005.

    Kind regards
    Steve
  • System
    System Posts: 100,537 🤖 Admin 🤖
    Re:capital allowance for first year 05/06

    hi thanks, didnt know that!!! searched sites last night and found out, but it says that it might go back to 50% in the budget for next year!!

    thanks again

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