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UK Floor Cleaning Forum => Carpet Cleaning Forum => Topic started by: Mike Osbourne on December 12, 2008, 05:33:04 pm

Title: Yanks get 100% on new capital assets!
Post by: Mike Osbourne on December 12, 2008, 05:33:04 pm

I just got an email and if I've read it correct the Yanks have brought in emergency legislation which allows you to buy capital equipment and offset 100% against your profits, in an attempt to stimulate the economy.

I wonder if Mr Scottish Scrooge Brown will follow suite? I sure hope he does. ;D Beats pathetic Vat reduction by a country mile.

Title: Re: Yanks get 100% on new capital assets!
Post by: Doctor Carpet (Ret'd) on December 12, 2008, 05:41:22 pm

Much to my surprise my accountant told me that this is the case at present in our economy. How long it may last is another matter.

Title: Re: Yanks get 100% on new capital assets!
Post by: Doug Holloway on December 12, 2008, 05:55:11 pm

Hi Guys

I was told the same thing the other night.

Cheers

Doug

Title: Re: Yanks get 100% on new capital assets!
Post by: Mike Osbourne on December 12, 2008, 06:00:10 pm

Actually it makes sense. They get us to spend NOW and then claw back the extra profits from the reinvestment in the subsequent years. At least thats the theory. 8)

Title: Re: Yanks get 100% on new capital assets!
Post by: Cathedral Floorcare on December 12, 2008, 09:28:54 pm

i think I'm right in saying this has been planned for a while and came into force for this tax year - I went on a course last year and they told us it was going to happen.  8)

Title: Re: Yanks get 100% on new capital assets!
Post by: Ricky M on December 12, 2008, 10:14:14 pm

A financial advisor client of mine recons that its at 15% at the min but when things get back to the comfort zone it will prob go up to 18% .

Ricky

Title: Re: Yanks get 100% on new capital assets!
Post by: Mike Osbourne on December 12, 2008, 10:29:06 pm

Don't worry when the Cons get in everything will be alright. ::)

Title: Re: Yanks get 100% on new capital assets!
Post by: Dave_Lee on December 13, 2008, 12:31:35 am

Ability,
Thats vat, not capital expenditure.
Dave.

Title: Re: Yanks get 100% on new capital assets!
Post by: Ricky M on December 13, 2008, 01:04:45 am

oops stella , read it wrong !!

Never mind in my world i knew what i ment !

A Tipsy Ricky