New guidance on capital allowances for pig industry
New guidance on capital allowances relating to the pig industry has been published. Although this specific guidance is aimed at a specific industry it is part of a pilot exercise to illustrate the range of assets on which plant and machinery capital allowances can be claimed.especially relevant to the agricultural sector.
The guidance includes lists of qualifying:
– Outdoor items of plant and machinery;
– Building features that can qualify for 20% writing down allowances;
– Building features that can qualify for 10% writing down allowances;
– General plant and machinery;
– Cars used for business purposes.
The guidance covers all the main plant and machinery capital allowances, namely enhanced capital allowances (ECAs), the new annual investment allowance (AIA), the temporary 40% first-year allowance (FYA) for 2009-10, writing-down allowances (WDAs) and the small pools allowance.