As we approach the end of the tax year it’s worth considering whether you have made the most of your possible capital allowances .
Capital allowances allow you to write off the full value of machinery against your profits, which in turn enables you to reinvest in other areas of your business. These allowances can be claimed by customers against direct purchases and any HP agreement payments made during the year.
If your purchase consideration is made between now and the end of the 2019/20 tax year (5 April), then the attraction of delaying tax due or even receiving a tax refund through an outright purchase or hire purchase may influence your decision.
Although T H WHITE does not provide financial advice, our sales experts will happily provide information on tax implications, but we also strongly advise a conversation with your accountant to advise on the best approach for your individual circumstances.