Budget 2012 – Annual Tax Rates and Allowances

Capital Allowances and Reliefs - Budget 2012 - GT

Capital Allowances and Reliefs

Plant and machinery 2012/2013 2011/2012
Annual investment allowance
  • restricted to first £100,000 of most qualifying expenditure
100%
100%
Writing down allowance1
18%
20%
Features integral to a building, thermal insulation and long life assets
Writing down allowance
8%
10%
First year allowances
  • designated energy saving plant and machinery2
100%
100%
  • expenditure on new electric cars and low carbon dioxide emission cars
100%
100%
expenditure on refuelling for vehicles using natural gas or hydrogen fuel
100%
100%
  • environmentally beneficial plant and machinery2
100%
100%
Business premises renovation allowances
initial allowance
100%
100%
  • writing down allowance
25%
25%

1 Special rules apply to cars acquired since 1 April 2009 with high emissions (>160g/km).
2 Loss making companies can surrender deduction for a payment of 19% of the amount surrendered. Maximum refund greater of £250,000 or total PAYE & NI liability.

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