Claim capital allowances
Full expensing and 50% first-year allowance
Only companies can claim full expensing and the 50% first-year allowance.
You can claim them against the cost of certain plant and machinery. It must:
- have been bought from 1 April 2023
- be new and unused
You cannot claim both allowances against the same expenditure.
What you can get
Full expensing lets you deduct 100% of the cost of qualifying plant and machinery from your profits before tax in the year it was bought.
The 50% first-year allowance lets you deduct 50% of the cost from your profits before tax in the year it was bought.
Check if you can claim
Check if you can claim the full expensing or 50% first-year allowance.
You can claim on your Company Tax Return.