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Use up your tax allowances early in the tax year

Use up your tax allowances early in the tax year

by VelocityAS | May 3, 2022 | capital allowance, income, ISA, Tax

If you are one of those people who is always racing to use up your tax allowances, such as Individual Savings Accounts (ISAs) at the last minute before the end of April 5, then you are not alone. But you could be making a big mistake. When it comes to mopping up tax...
End of year tax planning – what you need to consider

End of year tax planning – what you need to consider

by VelocityAS | Apr 1, 2022 | Accounting, capital allowance, Corporation Tax, Dividends, Finance, Shares, Tax

The new tax year on April 6 is accelerating quickly towards us, and now is the time to make sure that any last-minute allowances you may not have made the most of in the 2021/22 tax year are mopped up. There are plenty of allowances that have a time limit on each tax...
New capital allowances super-deduction

New capital allowances super-deduction

by VelocityAS | Apr 6, 2021 | Accounting, capital allowance, Tax

Companies within the charge to corporation tax who invest in new plant and machinery in the two years from 1 April 2021 are able to benefit from two new first-year allowances, including a super-deduction of 130%. Details of the measure are set out in a policy paper...

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