CAPITAL ALLOWANCES

2023-24

2022-23

Plant and Machinery

Main writing down allowance

Long life assets, integral fixtures

Full expensing - 100% FYA 

First year allowances – super-deduction

First year allowances – special rate

18%

6%

100%

-

50%

18%

6%

-

130%

50%

R&D tax credits SME scheme

R&D expenditure credit

Structures and buildings allowance

Annual Investment Allowance (AIA)

186%

20%

3%

 £1,000,000

230%

13%

 3%

 £1,000,000

Cars

New and unused, CO2 emissions are 0g/km (or car is electric)

Second hand electric car

New or second hand, CO2 emissions are 50g/km or less

New or second hand, CO2 emissions are over 50g/km

100%

18%

18%

6%

100%

18%

18%

6%

 


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