A Capital allowance refers to sums of money a UK business can deduct from the overall corporate or income tax on its profits. These sums derive from certain purchases or investments, outlined in the Capital Allowances Act 2001. Capital allowances may be claimed for: Plant and machinery is claimed on the second fix (all the work after plastering to...
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http://en.wikipedia.org/wiki/Capital_allowance
Money spent by a company on fixed assets, such as buildings, vehicles, machinery, which is deducted from its profits before tax is calculated
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http://www.encyclo.co.uk/local/22643
A tax allowance which takes account of depreciation of certain types of business assets such as... <a target=_blank href='http://www.finance-glossary.com/terms/capital-allowance.htm?id=204&ginPtrCode=00000&PopupMode=false' title='Read full definition of capital allowance'>more</a>
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In business, a capital allowance is an income tax relief given against business and some other profits to reflect the depreciation of certain types of asset owned by the business. Because the Inland Revenue cannot control the amount of depreciation of fixed assets that traders charge in their accounts against profits, it is customary for the trader...
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