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What are Tax Allowances

Both in property investing and letting, investors need to understand some basics about taxes. These are not complex concepts, but they are concepts that help investors better understand, from a tax perspective, the working of accounting. One of the more confusing issues, are allowances and depreciations. That is why it was our first article. This is the second article in this series. When a company spends money on expenses, these expenses are deductible for tax purposes as business expenses. So, what happens when expenditure is of a capital nature and the amount spent cannot be expensed for tax purposes? Such amounts qualify for capital allowance deductions.
Read more at: Property Investor Network