It’s Tuesday!
The perfect day to talk Tax.
Read this week’s short Tax snippet for doctors and dentists, to help you save money and get more organised with your tax affairs. It’s just to give you a flavour – in fact, you can read it whilst the kettle boils for your morning coffee!
The Annual Investment Allowance
The Annual Investment Allowance (AIA) is available to business owners and landlords.
It can be used to claim tax relief on capital expenditure such as equipment, computers, machinery and office furniture.
The current allowance is £200,000 per year, relating to purchases made after January 2016.
In 2015 the allowance was £500,000.
Utilising your allowances each year means you can minimise your tax bill.
Carefully timing when you make large purchases is important to make the best of your tax situation.
Working with a professional accountant will ensure you are claiming the most tax relief possible.