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capital allowances depreciation

  • 07-11-2016 9:17pm
    #1
    Kate253
    Registered Users, Registered Users 2 Posts: 167 ✭✭


    How many years can you claim depreciation on capitial allowances? 7/8 yrs?


Comments

  • #2
    Lockedout2
    Registered Users, Registered Users 2 Posts: 402 ✭✭Lockedout2


    Depreciation on capital allowances?

    Do you mean depreciation on capital expenditure?

    Depreciation is an accounting concept that provides for the write down in value of an asset over its life.

    So your depreciation policy may write off an asset over 3,5,7,8,10,20 or 40 years.

    Capital Allowances are a tax allowance.

    Plant and equipment including motor vehicles are written off over 8 years.


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