- Source: Capital Allowances Act 2001
The Capital Allowances Act 2001 is an Act of the Parliament of the United Kingdom that governs how capital allowances are deducted from income taxable under the Income Tax Act 2007 and the Corporation Tax Act 2009.
Types of allowances
Capital allowances fall under several categories:
initial allowance (IA);
annual investment allowance (AIA)
first-year allowance (FYA);
writing down allowance (WDA);
balancing allowance.
Under the Act, they are available for specified types of claims:
References
Kata Kunci Pencarian:
- Capital Allowances Act 2001
- Capital allowance
- United Kingdom corporation tax
- Schedular system of taxation
- Research and Development Capital Allowances
- Double Irish arrangement
- Jobseeker's Allowance
- Tax Law Rewrite Project
- Income and Corporation Taxes Act 1988
- List of statutory instruments of the United Kingdom, 2017
