However, the increase in first year allowances on capital expenditure incurred between April 2009 and April 2010 may have a much bigger financial impact, and could indeed accelerate some investment decisions, as it is a temporary increase for one year only.
What does FYA stand for?
FYA stands for First Year Allowances (United Kingdom Corporation Tax Act 2001)
This definition appears very rarely and is found in the following Acronym Finder categories:
- Military and Government
- Business, finance, etc.
See other definitions of FYA
We have 24 other meanings of FYA in our Acronym Attic
- Foundation Year
- Fraternally Yours
- Full Year
- Fushigi Yuugi (Anime)
- Florida Yards & Neighborhoods Program
- Forget You and the Sysop You Rode in On (polite form)
- Feng-Yun 2 (geostatioary meteorological satellite of China)
- Foundation Year 1 (medical students, UK)
- Fédération Yoga et Ayurveda (French Yoga federation)
- First Year Affairs
Samples in periodicals archive:
It also wanted to see measures including extra tax incentives for employers to contribute to pensions and permanent first year allowances for companies spending on information technology.
In addition, continuing and extending the 40 per cent first year capital allowances for small and medium sized companies was also welcomed alongside the 100 per cent first year allowances on ICT expenditure until March 31, 2004.
Phill Waller, partner at Mazars in Birmingham, said: "For small and medium enterprises, First Year Allowances are to be replaced by an Annual Investment Allowance.
Regarding the Government's proposals to simplify the present capital allowances regime, she said: 'Any change would have a marked impact on those SMEs who currently benefit from the availability of first year allowances.
The Chancellor also intends to raise the size thresholds for companies, to allow more smaller businesses to claim the 40 per cent first year allowances and 100 per cent allowances for IT.
Incentives which encourage lean manufacturing techniques, such as higher first year allowances for investment in plant and technology, would be wel-comed as would greater benefits for those who invest in fledgling businesses.
The argument about first year allowances is a very simple one.