Budget 2018: the chancellor has announced a reduction of rate of special writing down allowance for capital allowances affecting assets in the special rate pool.

From 1 April 2019, for Corporation Tax, and 6 April 2019 for Income Tax, the special rate pool writing down allowance will change from 8% to 6% per annum.

This will affect the allowances for assets such as:

For periods spanning the change in rate, a hybrid writing down allowance rate will apply.

Ring-fenced trades will retain the 10% rate. 

Useful links:

Budget 2018 live highlights

Budget 2018 summary

External link

HMRC: Reduction of rate of special writing down allowance for capital allowances

 

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