URGENT TIME LIMIT - AIA CLAIM

With many businesses and sole traders having a 31 March year end, time is running out to make your AIA claim for the year ended 31 March 2018. AIA (Annual Investment Allowance) is an HMRC incentive for investment and is an accelerated form of capital allowances. It allows businesses and tax payers to offset the costs of qualifying plant and machinery at a rate of 100% in the year of purchase and speeds up the tax relief on the purchase of assets, which gives the business better cash flow. It is most important that the asset is purchased before the end of your accounting period to make the claim. The current limit for AIA claims is £200,000 per annum. There are rules on qualifying assets but broadcasting equipment largely qualifies. Please contact your accountant for confirmation on availability of AIA relief. Of Note: On the Government website under the heading of 'What doesn't count as plant and machinery' "Items used only for business entertainment, e.g. a yacht"  Sorry guys! Mercer & Hole Chartered Accountants