Budget capital allowances changes

06 NOV 2018

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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.

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