- writing down allowances
- Finin the United Kingdom, the annual depreciation of fixed assets for tax purposes. These allowances form part of the capital allowance system.
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writing down allowances
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Writing down allowance — Writing down allowance, in United Kingdom Taxation, is the annual rate at which capital allowances can be claimed. This rate is reduced or extended if the chargeable period is shorter or longer than one year.The writing down allowance is the rate … Wikipedia
writing-down allowance — WDA A capital allowance available to a UK trader; from 1 November 1993 it is the only allowance generally available for plant and machinery used in trade, although first year allowances have occasionally been introduced for specific types of… … Accounting dictionary
writing-down allowance — WDA A capital allowance available to a UK trader; from 1 November 1993 it became the only allowance generally available for plant and machinery used in trade, although first year allowances have at times been reintroduced for specific types of… … Big dictionary of business and management
capital allowances — Allowances against UK income tax or corporation tax available to a business, sole trader, partnership, or limited company that has spent capital on plant and machinery used in the business. Capital allowances are also given on industrial… … Accounting dictionary
capital allowances — Allowances against UK income tax or corporation tax available to a business, sole trader, partnership, or limited company that has spent capital on plant and machinery used in the business. Capital allowances are also given on industrial… … Big dictionary of business and management
capital allowances — For qualifying equipment (i.e. plant and machinery but also including a licence of computer software) a proportion of the capital cost can be used to relieve tax: the relevant amount is set against company revenue which would otherwise be taxable … Law dictionary
written-down value — WDV The value of an asset for tax purposes after taking account of its reduction in value below the initial cost, as a result of its use in the trade. An asset acquired for a trade is eligible for capital allowances A writing down allowance of… … Big dictionary of business and management
written-down value — WDV The value of an asset for tax purposes after taking account of its reduction in value below the initial cost, as a result of its use in the trade. An asset acquired for a trade is eligible for capital allowances. A writing down allowance of… … Accounting dictionary
capital allowance — a set off for tax in relation to expenditure on capital rather than revenue. Under the Capital Allowances Act 1990, the cost of capital assets acquired by a trader for the purposes of his business may be deducted from his total profit. The nature … Law dictionary
allowance — al‧low‧ance [əˈlaʊəns] noun 1. [countable] an amount of money that someone is given regularly or for a special reason: • She earns a package worth $1 million, including a $15,000 clothing allowance. ˌcost of ˈliving alˌlowance [countable] HUMAN… … Financial and business terms
Schedular system of taxation — The Schedular system of taxation is the system of how the charge to United Kingdom corporation tax is applied. It also applied to United Kingdom income tax before legislation was rewritten by the tax law rewrite project. Similar systems apply in… … Wikipedia
