Types of Tax Relief
Capital Allowances
Capital Allowances include a system of property tax reliefs which allow UK taxpayers to offset the cost of qualifying assets against their business projects to reduce the tax payable - effectively depreciation for tax purposes.
Capital Allowances are available in many forms, the main ones are listed below – click on the link for more details.
Plant & Machinery Allowances
Plant & Machinery – the most common form of capital tax relief at 14% per annum read more
Integral features – tax relief for higher value building services assets at a 6% rate read more
Long Life Assets – for assets with a useful economic life of 25 years or more
Short Life Assets – for assets disposed of within 8 years
First Year Allowances
Annual Investment Allowances
A valuable incentive of £1m per annum to encourage capital investment read more
Structures and Buildings Allowances read more
Freeports read more
Research & Development Allowances
Relief for investment into qualifying research and development technologies
Land Remediation Tax Relief
This is a “green” environmental tax relief aimed at encouraging investment in brown-field or derelict sites which contain contaminants or obstructions. It has been available for some years, but remains an under-used tool for developing brown-field land.
Revenue Tax Relief
A long-standing instrument, this provides relief for capitalised expenditure incurred on repairs to assets or the maintenance of assets.