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Category: <span>Capital allowances</span>

HMRC changes is guidance on Twin-Cab Pickups

In an announcement made on 19th February, the Government confirmed that twin-cab pickup vehicles with payloads of 1 tonne or more will continue to be treated as goods vehicles for both capital allowances and benefit-in-kind purposes. On 12th February, HM Revenue & Customs (HMRC) had updated its guidance on the…

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Pre-April tax planning reminder from Folkes Worton LLP Chartered

Pre-April Tax Planning Reminder

The new tax year starts on 6th April 2023, so there’s still some time left to consider your options, once we pass this date the majority of the tax planning options for Income Tax and Capital Gains Tax purposes will cease unless actioned before the 6th April. Do you fall…

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Tax Update January 2023

Happy New Year from everyone at Folkes Worton! Here’s our first Tax Update of 2023 – watch this space for our regular monthly updates. New Year Resolutions to Save Tax At this time of year we think about New Year’s resolutions. It is also a good time to start planning…

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Government Support Update – November 2021

I hope you are well and that your business is recovering from the effects of the pandemic. It still seems that the have a way to go to bring COVID-19 fully under control and that we may be moving towards more restrictions in the near future.With this in mind, I…

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Reduction of the Annual Investment Allowance on the Horizon

Annual Investment Allowance Update

Annual Investment Allowance Extension In October we reported on the impending reduction of the Annual Investment Allowance (AIA) from the temporary £1 million limit back to £200,000 on 1st January 2021. Chancellor Rishi Sunak has now extended this deadline by 12 months to 31st December 2021. For more information on…

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Think of turning electric? Folkes Worton looks at the benefits

Thinking of turning electric?

With the Government setting new and ambitious targets to reduce carbon emissions, giving the Motor Industry deadlines for ceasing production of fossil fuel and hybrid vehicles, as well as offering new incentives for vehicle owners to switch to all electric; is now the right time to convert to the all…

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Reduction of the Annual Investment Allowance on the Horizon

Reduction of the Annual Investment Allowance on the Horizon

Business owners and managers should be aware and plan for the reduction of the Annual Investment Allowance (AIA) on 1st January 2021 from its two year temporary level of £1 million back to £200,000 per annum. You should note that there is a cap on any expenditure on or after…

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