Claiming Allowances

Key requirements

The directory links to capital allowances for qualifying fixed assets, writing-down allowances for intellectual property, M&A allowances and land intensification allowances. Industrial building allowance guidance concerns pre-23 February 2010 expenditure, subject to transitional exceptions. Each allowance has a different qualifying asset, expenditure period and claim mechanism. A purchase being capital in the accounts does not mean it is eligible for every allowance. Start with the relevant asset category and review the detailed conditions before including an allowance in the tax computation.