When a business invests in equipment or machinery, it receives tax relief through capital allowances. Currently, they benefit from the Annual Investment Allowance (AIA), which gives 100% tax relief for ‘plant and machinery’ investments. The 100% relief is currently capped at £100,000. However, this drops to £25,000 with effect from April 2012. Any expenditure over …
A recent report by Accountancy Age magazine suggested that the Revenue were getting tough on ‘Time to Pay’, the scheme allowing taxpayers to spread their tax bills over a number of months, with the number of arrangements being rejected increasing significantly. This squares with a client’s recent experience. They were asked about their business by …
Hello and thanks for visiting our new website. We’re really chuffed with it. The Journal is going to be the hub, our resource centre. It will contain articles and news for small business issued by GBM Accounts and selected guests, as well as factsheets on accounting basics. All articles will be sent out once …