Professional accountants serving the UK and helping small businesses to grow!
Whether you are an expanding company or just starting up, KAMP Accountants is here to help.
With extensive experience working with large and small clients throughout the UK, we support large and small business in a broad range of business sectors with all their accountancy requirements.
You are in: Home / Resources / Tax Centre / Tax Rates And Allowances / Tax Rates
Capital Allowances
| |
2021/2022 |
2022/2023 |
2023/2024 |
| |
|
| Main rate pool: writing down allowance |
18% |
18% |
18% |
| Main rate pool: Full expensing |
N/A |
N/A |
N/A |
| Main rate pool: Super deductions |
130% |
130% |
N/A |
| Special rate pool (long life assets, integral features): writing down allowance |
6% |
6% |
6% |
| Special rate pool: Full expensing |
N/A |
N/A |
50% |
| Special rate pool: Super deductions |
50% |
50% |
N/A |
| Annual Investment Allowance (AIA) cap: |
£1,000,000 |
£1,000,000 |
£1,000,000 |
| Structures and Buildings Allowance |
3% |
3% |
3% |
The AIA allows businesses to invest in equipment and fixtures (cars and buildings don't qualify), with 100% tax relief in the year of purchase.
The AIA cap has been permanently set at £1,000,000. If the accounting period is shorter or longer than 12-months the AIA cap is apportioned based on the length of the period.
Super deductions and full expensing can only be claimed by companies subject to corporation tax. Where either of these reliefs are claimed the items must not be pooled. When an items for which the super deduction or full expensing has been claimed is sold, it can result in a balancing charge.
Super deductions cannot be claimed for plant and machinery which is bought to be leased to another party unless it is back ground plant and machinery in leased buildings.
Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.
- Accounts and Taxation
- Accounts prepared on time and presented to you at your premises
- Income tax calculations and projections
- Annual superannuation certificates for Partners
- Practice manager training about bookkeeping
- 2 - 4 meetings in a year at your premises
- Personal expenses
- Payroll
- SD55 for practice staff
- Installation and training in respect of practice computerised accounting system
- Unlimited telephone and email support for adhoc queries
Non - recurrent Services
•VAT advice •Capital gains tax planning •Partnership agreements •Surgeries finances •Pension planning •Budget and cashflow planning •Inheritance Tax planning
Recurrent Annual Services based on fixed fee:
- Accounts and Taxation
- Accounts prepared on time and presented to you at your premises
- Income tax calculations for Principles and Associates
- Practice manager training about bookkeeping
- 2-4 meetings in a year at your premises
- Personal expenses
- Payroll
- SD55 for practice staff
- Installation and training in respect of practice computerised accounting system
- Unlimited telephone and email support for adhoc queries
Non - recurrent Services
- VAT advice
- Capital gains tax planning
- Partnership agreements
- Surgeries finances
- Pension planning
- Budget and cashflow planning
- Inheritance Tax planning
Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.
Our specialist team provides a wide range of accounting and business services to General Practice.
Recurrent Annual Services based on fixed fee:
Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.
Recurrent Annual Services based on fixed fee:
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