07.05.09
Budget update.
Amongst all the bad news in the April Budget, there was a glimmer of good news for property owners. After reductions in the rates of allowances in previous budgets, this year it was announced that there would be a temporary higher rate of first year allowance. A 40% rate has been introduced for the expenditure incurred after the 1st April 2009 for corporation tax and 5th April for income tax.
It should note that the 40% FYA only applies to the main pool items such as sanitary fittings, furniture, carpets, fire alarms etc. Unlike previous FYA's, however, the 40% will be available to property investors.
For more information on the budget, email our helpline@ca-4.co.uk or call 01905 619224.