27/05/2025
As more woodworking businesses turn to digital tools to manage daily operations, the risk of cybercrime is becoming a growing concern. From managing stock and customer orders to accounting and ...
James Abbot, Tax Partner for Baker Watkin
Businesses considering buying assets (including vans, plant and machinery and so on) need to think carefully about the timing of spending the money. This is because there are some important tax changes due to come into force in April 2012 that could severely restrict how quickly you will save tax on purchasing assets.
Under current rules a business can spend up to £100,000 annually on qualifying assets and set 100% of the investment against taxable profits in the year of purchase. The £100,000 is known as the Annual Investment Allowance and qualifying assets include computers, vans, office equipment and other types of plant and machinery but it does not include cars.
