2011 April | Portal Tax Claims

Archives for April, 2011

FLA urges Treasury to extend green tax relief

April 21, 2011 at Capital Allowances

FLA urges Treasury to extend green tax relief The Finance and Leasing Association (FLA) is calling on the Treasury to extend tax relief on energy efficient equipment to the asset finance sector. The association believes that the extension would benefit small businesses and is calling specifically for the relaxation of the Enhanced Capital Allowances (ECAs) to cover energy saving equipment ... Read More

Fraudulent claimants threaten legitimate allowances

April 19, 2011 at Capital Allowances

Fraudulent claimants threaten legitimate allowances The Government announced that it would be clamping down on the ‘aggressive’ tax avoidance schemes being used by some large firms, who rent machinery and then claim excess tax relief. Businesses are able to claim capital allowances when they enter into a long funding lease for their buildings and machinery. However, some firms ... Read More

Claiming Mineral Extraction Allowances

April 18, 2011 at Claiming Capital Allowances

Claiming Mineral Extraction Allowances In a separate article, we noted that persons engaged in the trade of extracting different kinds of deposits from the earth, such as sand/gravel, oil and hard rock or in the field of geothermal energy are entitled to claim Mineral Extraction Allowances (MEA) once they begin actual trading. In that article, ... Read More

Mineral Extraction Allowance

April 13, 2011 at Capital Allowances

Mineral Extraction Allowance (MEA) is an allowance that can be claimed by persons engaged in the trade of mineral extraction. Only persons actually carrying on the trade, and not lessors of mineral-bearing land, are entitled to make claims. Claims can also be made only when there is actual trade; activities such ... Read More

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Values Shown are not guaranteed and have been based upon assumptions including that you have paid tax over the last two years to at least the refund amount shown and assumes all assets are in the 20% main pool of allowances. Some assets may be in the 10% integral features pool which will lower the annual amount claimable, however the total benefit of the allowances remains the same. The amount claimed will depend upon your personal circumstances and are shown above for illustration purposes only.

This calculator is for illustration purposes only.

If AIA is included in the calculations, we assume that no previous deductions within the AIA allocation has been submitted.

You cannot claim Capital Allowances before the year of purchase.

Our fee is a legitimate business expense and as such is tax deductible.

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