Farm News
Timing is critical
Proper advice is needed
because different financial
years that straddle either the
tax year or calendar year end
may result in complicated
calculations that could result
in a lesser AIA being granted
in that financial year. The chart
below illustrates the maximum
amounts available by showing
‘different financial
years that straddle
either the tax year
or calendar year
end may result
in complicated
calculations that
could result in
a lesser AIA’
four different financial year end
companies and how vital it is to
spend the right amount within
the right periods in order to
maximise the tax benefits.
For financial years ending in
2014 and 2015, the maximum
AIA actually available may
be lower than the amounts
indicated in the chart,
depending on the timing of
the expenditure. Given the
lead times of some tractors,
telescopic handlers and
machinery, from order to
delivery, this also needs to be
carefully factored in to your
buying plans. Get the timing
and /or the amounts wrong
and your business could either
miss out on available tax relief
or worst still, end up paying far
more tax then is required.
Other factors being equal, if
your business is contemplating
‘Get the timing and /or the amounts
wrong and your business could
either miss out on available tax
relief or worst still, end up paying
far more tax then is required.
purchasing farm machinery in
the near future, there are some
strong tax-based and cash flow
arguments to carefully plan the
set purchases before the end of
your financial year and certainly
before 1st January 2016, so
that you can maximise on the
available £500,000 tax relief.
JCB Finance Ltd is authorised
and regulated by the Financial
Conduct Authority. JCB Finance
provides asset finance for UK
businesses for both JCB and
non-competitive plant, including
‘every business’
circumstances
are different’
vehicles and cars but it is not
a tax or financial advisor always seek advice from your
accountant or finance director,
because every business’
circumstances are different.
Businesses should not make
investment decisions purely on
a tax basis.
Will Wastling, Partner, F H Wastling & Sons
ASSET FINANCE
THAT FITS
YOUR BUSINESS
Flexible finance solutions tailored
to your particular needs
Finance for all types of farm machinery
and vehicles, new and used
Available for both JCB and non-JCB assets
We are a ‘people’s business’ with a
nationwide team of relationship managers
We focus on meeting the needs
of our customers
92889.002 JCB Agricultural Advert 144x210 aw1.indd 1
FIND OUT WHAT MAKES JCB FINANCE
THE RIGHT FIT FOR YOUR BUSINESS
0800 150650 WWW.JCB-FINANCE.COM
Lines are open 8.30am to 5.00pm Monday to Friday
JCB Finance Ltd is authorised and regulated by the Financial Conduct Authority
18/09/2014 09:42
www.farmers-mart.co.uk Feb/Mar 2015 9