This eBrief is to make people aware of the importance of completing the Form 11 for the tax year 2011 correctly in relation to claiming capital allowances as not all capital allowances are deductible in arriving at the amount of income chargeable to the universal social charge (USC).
The capital allowances that are deductible are those incurred on the provision, for trading purposes, of:
- Plant and machinery
- Vehicles used for business purposes
- Certain types of buildings, such as factories or farm buildings
Any capital allowances ...
AUG