Budget capital allowances changes
06 NOV 2018
Annual Investment Allowance
This allowance allows a 100% tax deduction in the year of expenditure by a business purchasing qualifying plant and machinery, such as a tractor, grain drier or even an anaerobic digester. The allowance is currently £200,000, but will increase to £1 million with effect from 1 January 2019 for two calendar years. However, the year end of the business making the expenditure needs to be considered to confirm what amount of the increase to £1 million will be available in the 2019 accounts.