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Budget/FB: Capital Allowances

 
Martin Wilson of The Capital Allowances Partnership Ltd discusses the Budget announcements on capital allowances
 
One of the surprises in the recent Budget was the reintroduction for one year of first-year allowances (FYAs) for capital expenditure on plant and machinery. Whilst as a capital allowances specialist I can only welcome the decision it does rather emphasise how much has changed in the last year or two.
 
Little more than one year ago that is to say with effect from April 2008 the Government brought in major changes to the system of capital allowances including the abolition of 40% FYAs for small and medium-sized enterprises and a reduction in the main rate of writing-down allowance (WDA) from 25% (which rate had been in place for...
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