There is a lot of information on the internet detailing the Annual Investment Allowance and how it works. However, what about specific reference if you are looking to lease equipment? How, or can you still use that tax relief?
This Leasing Insight guide explains all you need to know if you are looking to lease equipment and still wish to claim tax relief using your Annual Investment Allowance.
What is the Annual Investment Allowance?
The Annual Investment Allowance (AIA) allows a company to write off 100% of the cost of certain qualifying assets against tax, to be offset against profits in the current year.
When did it start?
The legislation came into effect on the 1st April 2008 for companies and 6th April 2008 for other businesses such as sole traders and partnerships.
What type of equipment can you claim AIA on?
Firstly, you must use the asset in your company.
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