A-Z index

Business and professional items deductions

Depreciation and capital expenses and allowances
Capital allowance measures contain the rules for calculating the decline in value of depreciating assets.
Effective life of an asset
To use either of the depreciation methods, you have to work out how long the asset can be used to produce income - its effective life.
Income and deductions for business
You can claim deductions for costs incurred in running your business, provided the expenses are not of a private or domestic nature.