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Post Info TOPIC: Annual Investment Allowance
Silly Digits


Senior Member

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Posts: 200
Date:
Annual Investment Allowance
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I have a client who is a self employed sole trader.

Year end is 28 February 2009

I had included  capital allowances in his 2007-8 return for his van/tools etc.  As from 6 April 2008 HMRC introduced Annual Investment Allowance.  Just getting that hang of things, nevermind.

I understand a limit of £50000.  Plant & Machinery (not cars)


I just need to know if I am understanding correctly.  The b/f balance from 2007/8  can have a WDA of 20% for 2008/9.  And any assets that he purchased in 2008/9  only about £500 can this all be put against profit for 2008/9.

Thankyou to anyone who can help.

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Wendy


Veteran Member

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Posts: 80
Date:
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Hi

Yes from the 5th April 08 if your client purchases any qualifying fixed assets (like machinery) they can claim a 100% first year allowance on the asset.



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