Stop paying too much tax by claiming AIA
18th June 2015
Since April 2014 if you run your own business or are a landlord you can take advantage of the annual investment allowance (AIA).
You can claim relief against your taxable profit up to £500,000 a year for capital expenditure on items such as plant, machinery tools and computers and offset 100% of the capital cost against your profit.
Some examples of AIA qualifying expenditure are:
‘Plant or machinery’ actually covers almost every sort of asset a person may buy for the purposes of his/her business. Really the only business assets not covered are land, buildings and cars.