Looking for Accountants in Glasgow?

You've found us - Welcome to JCWallace & Co

There are many accountants in Glasgow but we know that our personal service and the depth of our knowledge and expertise provides our clients with something special.


ServicesIndividuals & Businesses

Business start-up, Compliance Services, Estate Planning, Accounts, Support Services & Taxation .

More info

Resources Interactive tools & factsheets

Online Calculators, Downloadable forms, Market data, Tax Calendar, Tax rates & allowances and more .

Click here

1st Meeting Free!AND OUR COFFEE IS AWESOME

All you have to do is contact us to arrange a meeting and we'll be in touch!

Get in touch

The current hot topic

More tax relief for your plant and machinery spend

The Annual Investment Allowance (AIA) provides a 100% deduction for the cost of most plant and machinery (not cars) purchased by a business up to an annual limit and is available to most businesses. Where businesses spend more than the annual limit, any additional qualifying expenditure generally attracts an annual writing down allowance of only 18% or 8% depending on the type of asset.

The maximum amount of the AIA was increased to £250,000 from £25,000 for the period from 1 January 2013 to 31 December 2014. The amount of the AIA is further increased to £500,000 from 1 April 2014 for companies or 6 April 2014 for unincorporated businesses until 31 December 2015. The AIA will return to £25,000 after this date.

Comment

The increased AIA will mean that up to 99.8% of businesses could receive 100% upfront relief on their qualifying investment in plant and machinery. For example a single company with a 12 month accounting period to 31 December 2014 could obtain overall relief for the period of £437,500 (£250,000 x 3/12 plus £500,000 x 9/12). There is a restriction of £250,000 for expenditure incurred in that part of the accounting period which falls before 1 April 2014.