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 Capital
allowances
First year allowances for plant and machinery purchased by small or medium-sized
businesses have been available at 40% as a temporary measure which was
due to end on 1 July 2000. These first year allowances are now made "permanent".
100% FYAs continue to be available where plant is purchased by small or
medium-sized businesses for use in Northern Ireland up to 11 May 2002.
100% FYAs will also be available for any small business which invests
in computers, software and internet-enabled mobile phones in the three
years commencing on 1 April 2000.
Pay
As You Earn
Employers who pay up to £1,500 on average per month in PAYE and NIC will
be able to pay once a quarter rather than each month, providing a cash
flow benefit (1999/2000: £1,000 a month).
Filing
discounts
Employers who file their end of year PAYE returns for 2000/01 over the
internet, and pay their tax electronically, will receive a discount of
£50. This will be increased to £100 for any employer who pays Working
Families or Disabled Person's Tax Credit to employees.
Sub-contractors
The rate of tax deduction under the Construction Industry Scheme falls
from 23% to 18% from 6 April 2000. There are a number of other changes
to the procedures for applying for sub-contractors' certificates.
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