Huge Tax Savings

Huge Tax Savings Wednesday, 13th February 2013 Chancellor George Osborne has announced that Annual Investment Allowances on CNC machine tool purchases will increase from £25,000 to £250,000 for a limited period. What does this mean? A qualifying business may be eligible to offset up to 100% of a qualifying purchase up to £250,000 and this includes machine tools. For example: Your company makes a taxable profit of say £250,000. They would expect to pay corporation tax on the £250,000. If youdecide to buy new Addison machine at a cost of £250,000 you may be eligible to offset your total corporation tax bill against this purchase. Always check with your accountant or tax advisor before proceeding.

For more information on Huge Tax Savings talk to Addison Saws Ltd