News and Views
Are you claiming the correct capital allowances?

Computers
In his last Budget the Chancellor announced an extension of the 100% first year capital allowance for small businesses investing in information and communication technologies for one further year to 31 March 2004. IT equipment includes computers, printers, scanners, monitors, software and other computer accessories.


Toilets, taps and water meters
All businesses can claim 100% enhanced capital allowances on their spending on designated plant and machinery to reduce water use and improve water quality. Under the scheme businesses that invest in qualifying technologies after 1st April 2003 will be able to write off immediately the whole cost. The scheme will initially apply to the following, provided the equipment meets the strict water saving/efficiency criteria:

meters and monitoring equipment.
flow controllers.
leakage detection equipment.
efficient taps.
efficient toilets.


Energy Saving plant.
Enhanced Capital Allowance of 100% is available on expenditure incurred on or after 1st April 2001 on energy-saving plant and machinery. To qualify for the allowance the items must be previously unused and fall into the following categories:

motors
lighting
pipework
refrigeration boilers
combined heat & power
thermal screens

A certificate from the supplier stating that the item qualifies for the enhanced capital allowance is required.

If you think that your business qualifies but is not claiming the capital allowances referred to above, or if you are not sure if your business qualifies contact us.