FYA

(redirected from First Year Allowances)
AcronymDefinition
FYAFoundation for Young Australians (est. 1978)
FYAFor Your Amusement
FYAflashing yellow arrow
FYAFirst Year Allowances (United Kingdom Corporation Tax Act 2001)
FYAFor Your Attention
FYAFédération Yoga et Ayurveda (French Yoga federation)
FYAFor Your Awareness
FYAFor Your Acknowledgement
FYAforskolin, yohimbine and aminophylline (topical gel)
FYAFort York Armories (Canadian Forces Reserve Base in Toronto)
FYAFor Your Action
FYAFor Your Approval
FYAFor Your Assistance
FYAFirst Year Affairs
FYAFor Your Authorization
FYAFor Your Anger (Internet slang)
FYAFuture of Youth Association (Hazel Crest, IL)
References in periodicals archive ?
It will enable the 5NINES project to benefit from the additional incentive of enhanced capital allowances, which allows them to claim 100% first year allowances for qualifying plant and machinery expenditure.
Further details relating to the benefits of Enterprise Zones can be acquired from HMRC Notice: Enterprise Zones: First Year Allowances for Designated Areas', or Sunderland Local Enterprise Council.
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.
Smaller companies (SMEs) can obtain first year allowances of 40% on new capital expenditure qualifying for capital allowances.
From April this year expenditure incurred on more energy efficient plant and equipment can qualify for a 100% first year allowance if certain conditions are met.
Coupled with increases to the small companies' rate of corporation tax, and the withdrawal of first year allowances, small and medium enterprises were generally hit hard.
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.
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.