Thinking of investing in a new laptop? Of buying a business vehicle? Or of getting some other piece of equipment you need for your business or to help it operate more efficiently? These purchases are usually tax-deductible. But HMRC doesn’t treat them the same way they treat day-to-day expenses such as business mileage and office utilities. You can’t just subtract the cost from your income. To get your tax deduction, you’ll have to claim capital allowances. Here’s a rundown of what capital allowances are and how they work in the UK.