AIA limit extended

Posted on 21 Jan 2014
Share Blog Post
£1 million Annual Investment Allowance cap extendedThe Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at ways to stimulate the economy.The AIA provides a tax write off against profits for expenditure incurred on plant and machinery by businesses and owners of commercial property.Businesses can now continue to claim up to £1 million in same-year tax relief through the AIA for capital investments in plant and machinery assets until 1 January 2022. The temporary £1 million cap was originally due to revert to £200,000 on 1 January 2021.Commenting on the extension, Jesse Norman, Financial Secretary to the Treasury, said:'It is vital that we support business through the difficult months ahead.'Extending the AIA's £1 million cap will give businesses the confidence they need to invest into next year, helping them to grow whilst benefiting the wider economy too.'

View more blog posts

New audit regulator
Posted on 24 Jul 2024
New audit regulator
read more
Plea to simplify tax
Posted on 17 Jul 2024
Plea to simplify tax
read more
New National Wealth Fund launched
Posted on 10 Jul 2024
New National Wealth Fund launched
read more
Tax freezes hit hard
Posted on 03 Jul 2024
Tax freezes hit hard
read more
Back To Top
01604 660661