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Home arrow Legal and Finance arrow Annual wear and tear allowances on fixed assets
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Annual wear and tear allowances on fixed assets PDF Print E-mail

The following allowances which are given as a percentage on the cost of acquisition are deducted from the chargeable income:

Fixed assets                                                                                                                                                             %

Plant and machinery

Plant and machinery                                                                                                                                              10

Furniture and fittings                                                                                                                                            10

Televisions and videos                                                                                                                                          10

Industrial carpets                                                                                                                                                  10

Boreholes                                                                                                                                                              10

Machinery and tools used in an agricultural business                                                                                          15

Computer hardware and operating systems                                                                                                         20

Application software                                                                                                                                       331/3

Commercial motor vehicles                                                                                                                                   20

Motor cycles                                                                                                                                                        20

Excavators, tractors, bulldozers, self-propelled loaders and drums for petrol companies                                   25                                                                          

Expenditure on application software less than C£1.000, is written off in the year of




Commercial building                                                                                                                                             3     

Industrial, agricultural and hotel buildings                                                                                                           4

Flats                                                                                                                                                                     3 

Metallic greenhouse structures                                                                                                                            10

Wooden greenhouse structures                                                                                                                            33 1/3



Sailing vessels                                                                                                                                                       4,5

Steamers, tugs and fishing boats                                                                                                                          6

Motors launches                                                                                                                                                  12,5

New cargo vessels                                                        

New passenger vessels 6

Used cargo/passenger vessels Over their useful lifes




Tools in general 33 1/3

Videotapes property of video clubs 50

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