Writing down allowance: Difference between revisions
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1. | 1. ''UK tax.'' | ||
(WDA). | |||
The annual tax allowance given to a business in respect of capital allowances for their qualifying capital expenditure. | The annual tax allowance given to a business in respect of capital allowances for their qualifying capital expenditure. | ||
| Line 6: | Line 8: | ||
2. ''Tax.'' | 2. ''Tax.'' | ||
Similar tax relief under other tax systems. | Similar tax relief under other tax systems. | ||
Sometimes known as 'tax depreciation' to distinguish it from accounting depreciation (which is not normally an allowable expense for tax purposes). | Sometimes known as 'tax depreciation' to distinguish it from accounting depreciation (which is not normally an allowable expense for tax purposes). | ||
== See also == | == See also == | ||
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* [[Qualifying expenditure]] | * [[Qualifying expenditure]] | ||
* [[Reducing balance]] | * [[Reducing balance]] | ||
* [[Tax depreciation]] | |||
* [[Write down]] | |||
[[Category: | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 00:53, 14 March 2022
1. UK tax.
(WDA).
The annual tax allowance given to a business in respect of capital allowances for their qualifying capital expenditure.
For example, 18% per year on the reducing balance of unrelieved capital expenditure for many types of assets, from April 2012.
2. Tax.
Similar tax relief under other tax systems.
Sometimes known as 'tax depreciation' to distinguish it from accounting depreciation (which is not normally an allowable expense for tax purposes).
