Changes to capital allowances

Changes to capital allowances

The writing-down allowance (WDA) for capital assets will be lowered from April 2026 and a new first year allowance is introduced. Currently, companies can claim full expensing to deduct 100% of the cost of new and unused qualifying assets from their taxable profits....
Companies spared from Making Tax Digital

Companies spared from Making Tax Digital

HMRC has confirmed that companies will not have to comply with the requirements of Making Tax Digital (MTD) for corporation tax (CT) purposes  No start date had been set for MTD for CT, under which companies would have been required to maintain digital records; send...