Roger Sherwood and Co, a firm of accountants, have highlighted to its customers changes that HMRC are proposing regarding how to write off purchases of plant and equipment for tax purposes.
As ever, here is another example of Gordon Brown hitting (small) businesses. Unless you look at the small print, the change would seem to encourage some firms to spend more on plant and equipment in order to achieve the tax savings - thereby potentially impacting their cashflow!
"Watch this space" is the advice of Roger Sherwood and Co, whilst the proposals go through a consultation period and may appear in next year's Budget.
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