Find out how Annual Investment Allowance (AIA) is changing from 31st December 2020. AIA lets you deduct 100% of qualifying expenditure from your tax bill. It has been capped at £1,000,000 for the years 2019 and 2020. However, from 31st December 2020 the cap is being lowered to its previous level of £200,000. During the transition… Read more »
Posts Tagged: allowance
Big Changes with Employment Allowance
The current rules on employment allowances are undergoing big changes in April 2020. From April 2014 employers have been entitled to £3,000 off their National Insurance bill. But from April 2020, employers will only be eligible if their total secondary Class 1 NIC liability was under £100,000 in the previous tax year. This… Read more »