Annual Investment Allowance

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A capital allowance available from April 2008. It enables a business to offset 100% of its capital expenditure in any one year against corporation tax, to a limit of £50,000. The allowance, which is available to businesses of any size or legal form, replaces the various first-year allowances on specified plant and machinery previously available to small and medium-sized companies. It cannot be claimed on non-commercial motor vehicles.

Subjects: Accounting.

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