JAMES PENMAN BENEFITS FROM AIA INCREASE

Kirkcaldy’s James Penman (Plant Hire) Limited has been making the most out of a temporary increase in the Annual Investment Allowance (AIA) limit to invest in equipment and further capacity.  The family-owned company, which specialises in the provision of plant hire and drainage services to both the public and private sector across Scotland, learnt of the AIA increase from EQ Accountants. Ross Oliphant, Partner at EQ, commented:  “We encouraged the Penman family to make use of the temporary increase. It was critical we get the timing of the expenditure right so they could invest in new equipment to increase capacity and efficiency.” James Penman said:  “Our business revolves around high tech machinery, and we regularly invest in our equipment in order to maintain our standards and further capacity. When EQ advised us about the temporary increase of the AIA limit, we knew we had to capitalise on it. As such, we have been able to invest £500,000 in our new plant fleet, which has already made a significant difference.”   For more information on the AIA increase, call Ross Oliphant at EQ Accountants on: 01592 630055 or email: ross.oliphant@eqaccountants.co.uk. Or, to discuss your wider funding and finance options contact Business Gateway Fife on 01592 858333 or email success@bgfife.com