Use it or lose it!
Software of Excellence are urging practitioners to make the most of their 2012 Annual Investment Allowance, before changes which will reduce the allowance come into effect on 1 April.
The Annual Investment Allowance is designed to encourage capital investment and the allowance for the current tax year is set at £100,000, meaning that businesses can purchase assets up to this limit, which are fully tax deductible.
However, changes for the next tax year (starting April 2012) mean the upper limit for investment allowance will fall to just £25,000, making the next 3 weeks the last opportunity to commit to investment in order to offset expenditure against this year’s higher allowance.
The Annual Investment Allowance applies to all capital expenditure made on a business, so practitioners who are planning future installation of software (and additional modules) or digital imaging equipment, to a value above £25,000 but have not yet reached this year’s limit, should consider making the commitment now.
Taking advantage of this year’s investment allowance now, makes financial sense and can help dentists develop long term strategies to deliver efficiency and additional cost savings.
For more information on how to make most efficient use of this year’s annual investment allowance, contact Software of Excellence on 0845 345 5767 or visit www.soeidental.com.