Capital Expenditure Threshold

A company is currently expensing items under £5,000 and wants to know if they can raise this threshold to £1 Lakh, deeming smaller amounts immaterial. However, the general consensus is that specific limits for capital expenditure aren't fixed and depend on the nature of the asset. While there was a convention to expense assets under £5,000, it's advised to consult with a company's chartered accountant for definitive guidance.