Writing down allowance: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson m (Spacing 7/8/13) |
imported>Doug Williamson m (Spacing and category selection 7/8/13) |
||
| Line 1: | Line 1: | ||
1. (WDA). ''UK Tax.'' | 1. (WDA). ''UK Tax.'' | ||
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 7: | ||
2. ''Tax.'' | 2. ''Tax.'' | ||
Similar tax relief under other tax systems. | Similar tax relief under other tax systems. | ||
| Line 17: | Line 19: | ||
* [[Qualifying expenditure]] | * [[Qualifying expenditure]] | ||
* [[Reducing balance]] | * [[Reducing balance]] | ||
[[Category:Taxation]] | |||
Revision as of 15:20, 7 August 2013
1. (WDA). UK Tax.
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).
