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Capital Allowances – A real advantage.

If you run your own business HMRC will allow you to deduct capital allowances to recognize the value of new assets you purchase to run your business thus reducing your taxable profits. Typically these will be either a First Year Allowance or more likely an annual Investment allowance and write down allowance. HMRC recognize capital allowances in place of depreciation which they do not accept for tax purposes. I am going to write more on this topic over the next few days but if you would like more information please read here.