Tag: annual investment allowance

Tax Returns Claim on Annual Investment Allowance (AIA) Method

Tax Returns Claim on Annual Investment Allowance (AIA) Method

Capital allowance¬†can be claimed when a business buys assets to be used in the business. As the asset is used for business purpose and would lose its value for wear & tear, therefore, the value of the asset can be deducted from profits before paying tax. However, there are different rules for different assets and […]

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allowable expenses

Allowable Expenses

The Costs you pay with the sole purpose of earning profits from your business are allowable expenses. This means that any cost you incur outside the due course of the business is not allowed to be considered as a business expense. The expenses incurred may or may not include VAT on them. If it includes […]

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