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AIA transitional limit

The annual investment allowance (AIA) transitional limit will remain at £1 million until 31 March 2023, providing immediate relief for qualifying capital expenditure.

Talk to us about your capital expenditure plans to ensure that you don’t miss out on valuable reliefs.


If you are a company and you incur capital expenditure in the period from 1 April 2021 to 31 March 2023, you may be able to benefit from a super-deduction of 130% of the expenditure where the expenditure would otherwise qualify for main rate capital allowances at the rate of 18%, or a 50% first year allowance where the expenditure would otherwise qualify for special rate capital allowances at the rate of 6%.

BFMS help ensure that you optimise your capital allowance claims.


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Limited window for using your 2020/21 tax allowances

Individuals are entitled to a number of allowances each year. However, many of them are lost if they are not used in the tax year to which they relate – it is not possible to carry most unused allowances forward. The 2020/21 tax year comes to an end on 5 April 2021. With the end of the tax year approaching, now is the time to review your allowances and consider whether there is anything that can be done to prevent those allowances being wasted. Remember, any Covid grants that you have received in 2020/21 are taxable and will need to be taken into account when assessing your income.

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Government Support for All Businesses – COVID19 Virus

We are sure that you are aware of the support that the Government have put in place during the current COVID19 virus to date, however we want to ensure that you are fully up to date and aware of support available to you. We write to let you know that we are posting updates as they come in on our Facebook Page ‘BFMS Accountants’ and will also be updating our website ‘latest news’ page.

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