AIA increase

Hammond hikes AIA to £1mThe Chancellor outlined plans to increase the Annual Investment Allowance in his Budget. The tax-free amount that businesses can spend on building and machinery will increase from £200,000 to £1m, with effect from 1 January 2019, for a two-year period. Other measures include targeted relief for acquiring intellectual-property-rich businesses and a boost for exporters via a £2bn increase in funds for UK Export Finance.