Computing the tax savings to small firms.
Q: If I buy computer equipment, is it true that I can write the cost off against my profits for tax ...
Q: If I buy computer equipment, is it true that I can write the costoff against my profits for tax purposes?
A: Yes, but only if you meet certain criteria. In his latest Budget, the
Chancellor introduced a 100% First Year Allowance on expenditure incurred
from 1 April 2000 to 31 March 2003 on "Information & Communication
Technology" (ICT) acquired by small enterprises.
An enterprise is classified as being small if it currently satisfies any
two of the following conditions:-
- A turnover of not more
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