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Annual Investment Allowance: How timing impacts your purchases

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Annual Investment Allowance: How timing impacts your purchases

Annual Investment Allowance: How timing impacts your purchases The Annual Investment Allowance (AIA) tax relief is available on purchases of plant, machinery, commercial vehicles and building fixtures and fittings.

The Annual Investment Allowance (AIA) tax relief is available on purchases of plant, machinery, commercial vehicles and building fixtures and fittings.

You can claim AIA against Hire Purchase assets just as if you had paid cash. The interest charge on Hire Purchase agreements is 100% tax deductible too.

The Annual Investment Allowance (AIA) is a type of capital tax allowance that offers 100% tax relief on qualifying capital expenditure in the year of purchase. This enables businesses to effectively save £1 in taxable profits for every £1 spent.

How does the AIA work?

Up to £200,000 of expenditure on business assets (e.g. JCB machines and commercial vehicles) per year is 100% allowable against taxable profits of a business, deductable in the year that you buy them. This accelerates the tax relief rather than the tiered writing down allowances (WDA) normally applied over several years.

Who can claim?

Nearly all businesses can claim, regardless of their size; sole traders, partnerships and limited companies. The only business structures that can't claim AIA are mixed partnerships (consisting of individuals and companies) and trustees.

What can you claim AIA on?

Most assets claimed for business use qualify including; excavators, telehandlers, dumpers and compaction rollers. Cars cannot be claimed under this scheme.

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Terms: JCB Finance provides asset finance including Hire Purchase facilities for UK businesses but is not a tax or financial advisor - always seek advice from your accountant or tax advisor as every business' circumstances are different. JCB Finance Ltd is authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 708332).

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