You can claim Capital Allowances for what your business spends on certain assets that it owns and uses in the business, provided certain conditions are fully met.
You cannot claim Capital Allowances for the cost of things that your business buys and sells as part of its trade. Instead, you will need to include these items in business expenses when you work out your trading profits. In most cases, you cannot claim capital allowances against the purchase price or other investment in land, buildings or property.
Below you’ll find a summary of the types of expenditure that your business may be able to claim Capital Allowances for:
• Equipment that you own and use in your business
• Capital expenditure on research and development
• Gifts of equipment to charity
• Certain fixtures and integral features in buildings
• Renovating business premises