Capital allowances allow businesses to write off the cost of qualifying assets against taxable income, therefore reducing their tax liability. Most businesses will depreciate their assets in their accounts, but since businesses will use different rates and depreciation periods, these adjustments are not suitable for applying consistent taxation across businesses. Therefore, any depreciation adjustments businesses make are added back in before calculating taxable profit and then capital allowances are applied instead. Read our latest article below to find out the latest updates to capital allowances...

As we head towards the end of the 2020-2021 tax year, some taxpayers will need to consider double taxation relief. Read our latest article to find out more, and whether the rules apply to you..

There are three new Environmental Land Management Schemes: The Sustainable Farming Incentive, The Local Nature Recovery and The Landscape Recovery. These schemes have been designed to assist in achieving the goals set out in the 25 Year Environment Plan, whilst at the same time offering support to the rural economy and underpinning the commitment to be carbon neutral by 2050. Read our latest article to find out more about these schemes..

Most business owners are aware that an asset is something which is owned or controlled by the business. Assets are put into different categories depending on the life of the asset and whether it has a physical form. But where do intangible fixed assets sit? Read our latest article to find out more..