Question: My company is moving into new offices where do we stand in terms of tax decuctions the company is a limited company and we are VAT registered.
Answer: Throughout the year for any repairs and maintenance the full corporation tax can be obtained. Repairs and maintenance as defined by companies house would be general decoration and any repairs to existing assets-but not the cost of replacing items such as furniture.
For Brand new lighting and internal walls you are installing, your company should also qualify for annual investment allowance which currently stands at £25,000 a year. Any expenditure outside the annual investment allowance will attract write down allowances of 8% on internal features, 18 % on general equipment and also 100% for energy efficient plant.