Not an awful lot of commentary required around this post really. Putting it plainly, the government announced in the Autumn Budget that this allowance will be increased from £200,000 to £1m from January ’19 until 2021.
With only 42% of firms aware of this increase via a recent survey, and given much of my audience being building product manufacturers, I felt it would be useful to share. Act now!
To refresh those who have not taken advantage of the scheme, it allows manufacturers to write off costs of capital equipment against profits for the year they were purchased. This means you can gain faster tax relief for imminent investments.
A new survey has found that many manufacturing firms don't have plans to take advantage of the increase of the Annual Investment Allowance. The AIA helps manufacturers to invest in new tools – image courtesy of Depositphotos. Manufacturers must invest in their future, and this means spending money on new technology and machinery