This is substantially up from the traditional 25% tax relief available for investment in new equipment.
And according to workplace specialists Morgan Lovell, office plants, that is the horticultural variety not just the nuts and bolts ones, are are also eligible for 70% tax relief as part of expenditure on refurbishment work.
Andrew Bradley, financial director at Morgan Lovell, said: ‘Many organisations are not aware that most office fit out and refurbishment work includes a substantial proportion of allowable expenditure on plant and machinery – for example, that “plant” can include carpets, decorative features, demountable partitions and even a “plant” in the horticultural sense of the word.’
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states