| |
2008/2009 |
2007/2008 |
| |
% |
% |
Plant and machinery
Annual investment allowance |
| - on first £50,000 of qualifying expenditure (excluding cars) |
100 |
- |
| Writing down allowance* |
20 |
25 |
| - restricted to £3,000 per annumfor cars costing over £12,000, other than those with low emissions |
| Features integral to a building
and thermal insulation |
| - Writing own allowance |
10 |
- |
| First year allowances |
| Small enterprises |
| - qualifying expenditure between 1 April 2006 and 31 March 2008 for enterprises subject to
corporation tax |
- |
50 |
| qualifying expenditure between 6 April 2006 and
5 April 2008 for other enterprises |
- |
50 |
| Medium sized enterprises† |
- |
40 |
| All enterprises† |
- designate energy saving plant an machinery‡
|
100 |
100 |
| - expenditure on new low carbon dioxide emission cars |
100 |
100 |
| - expen iture on refuelling equipment for vehicles
using natural gas, biogas or hy rogen fuel |
100 |
100 |
| - environmentally beneficial plant and machinery‡ |
100 |
100 |
| - plant use in oil extraction trade |
100 |
100 |
Plant and machinery with expected life 5 years or more |
| Writing down allowance* |
10 |
6 |
| - expenditure not over £100,000 per annum |
0 |
25 |
| - expenditure on assets in wellings, shops,
showrooms, hotels and offices |
0 |
25 |
| - expenditure over £100,000 per annum |
10 |
6 |
| First year allowances |
| - plant use in oil extraction trade |
4 |
24 |
Plant and machinery for overseas leasing |
| - writing down allowance* |
10 |
10 |
Industrial and agricultural buildings, hotels,
sports pavilions,dredging and
highway concessions |
| Writing down allowance |
3§ |
4 |
- being reduced by 1% per annum
- no balancing adjustments in respect of balancing
events occurring post 20 March 2007 |
|
|
Enterprise zone buildings |
| - Initial allowance |
100 |
100 |
| - Writing down allowance |
5 |
25 |
Flat conversion allowance |
| - Initial allowance |
100 |
100 |
| Writing down allowance* |
5 |
25 |
| - on renovation or conversion of space above
commercial premises to provide flats to rent |
|
|
| Research and development |
100 |
100 |
Patent rights and know how |
| Writing down allowance* |
5 |
25 |
| - not applicable to acquisitions by companies |
|
|
Mineral extraction allowances |
- First year allowance oil extraction trade
|
100 |
100 |
| - Writing own allowance mineral asset acquisition* |
10 |
10 |
| - Writing own allowance other qualifying expenditure* |
5 |
25 |
Business premises renovation allowances |
- Initial allowance
|
100 |
100 |
| - Writing own allowance* |
5 |
25 |
| - Expenditure post 10 April 2007 |
|
|
Enhanced company tax reliefs |
| Research and development |
|
|
- Small and mediumsized enterprises (S E)¶
|
175 |
150 |
| - Large companies |
130 |
125 |
| - Additional credits available for certain vaccines
research expenditure |
|
|
| - Loss making S Es can surren er e uction for a
payment of 13.71% (16% 2007/2008) of the
amount surren ere (subject to con itions) |
|
|
Remediation of contaminated land |
150 |
150 |
| - Loss making companies can surrender deduction for a payment of
16% of the amount surrenderd (subject to conditions)
Intangible assets (including intellectual property and goodwill) |
|
|
| - Relief for companies for expen iture on creation, acquisition and
enhancement of intangible assets |
|
|
| - Based on accounts amortisation or by election at a fixed rate of 4% per
annum |
|
|
* On reducing balance.
† Restrictions apply.
‡ For 2008/2009 loss making companiescan surren er e uction for a payment of
19% of the amount surren ere . Refun greater of £250,000 or total PAYE+NI
liability.
§ Or 75% of amount previously claime if ifferent.
¶ For 2008/2009 subject to European Commissionapproval an a cap on relief of
€ 7.5 million per project.
Business Advice 