Mr. Niall Cody:

Most capital allowances end up being claimed in corporation tax. I have a note and it might better if I read it out instead of talking off the top of my head. Capital allowances are a form of depreciation. That is essentially what they are for tax purposes. They may be deducted from an individual's case 1 or case 2 tax adjusted profit in calculating the taxable profits of a trade or profession. A profession would be a good example of somebody who might have capital allowances.