Capital Allowances
|
2015 -16 |
2014 - 15 |
|
|
Plant and Machinery - Main writing down allowance - Long life assets, integral fixtures - First year allowances (certain environmentally efficient products)
|
18% 8% 100% |
18% 8% 100% |
|
- R&D tax credits SME scheme - R&D tax credits Large Companies Scheme* - Annual Investment Allowance**
|
230% 130% £500,000 |
225% 130% £500,000 |
|
Cars - CO2 emissions up to and including 130g/km*** - CO2 emissions over 130g/km |
18% 8%
|
18% 8%
|
* Alternatively, an Above The Line (ATL) tax credit of 10% is available by election.
The expenditure credit scheme will run alongside the current large company scheme until 31 March 2016 when the large scheme will cease.
**The AIA maximum limit of £500,000 will stop on 31 December 2015 when the AIA will change to a new permanent limit of £200,000.
*** 2014-15: A rate of 100% was applied to cars with CO2 emissions of 95g/km or less.
Universities and charities will be unable to claim R&D tax credits for expenditure after 1 August 2015.
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