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Last week the Government published the Corporation Tax Statistics 2019 which makes for some interesting reading and can be found at this link https://tinyurl.com/y5hzgra8.

It is great to see that capital allowances claims are increasing again following a dip in 2016-2017.  Below are some of the main points relating to capital allowances rom the report:

  • Over the last 6 years, capital allowance claims have increased by 36%, from £72 billion in in 2012-13 to £97 billion in 2017-18. This is despite a £3 billion decrease between 2015-16 and 2016-17.
  • After a dip in claims for capital allowances in 2016-17, claims increased 10% from 88 billion in 2016-17 to £97 billion in 2017-18.
  • AIA claims have held constant at £13 billion – current limit is £1million
  • The Construction sector claims the most AIA as a proportion of their total capital allowance claims, reflecting the large number of smaller companies in this sector.
  • Eight sectors account for 80% of capital allowances claims, though these sectors comprise only 42% of all companies liable for Corporation tax.
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