Capital allowance

Capital allowances is the practice of allowing tax payers to get tax relief on their tangible capital expenditure by allowing it to be deducted against their annual taxable income. Generally, expenditure qualifying for capital allowances will be incurred on specified tangible capital assets, with the deduction available normally spread over many years. The term is used in the UK and in Ireland.

Capital allowance

Capital allowances is the practice of allowing tax payers to get tax relief on their tangible capital expenditure by allowing it to be deducted against their annual taxable income. Generally, expenditure qualifying for capital allowances will be incurred on specified tangible capital assets, with the deduction available normally spread over many years. The term is used in the UK and in Ireland.