Extension of Annual Investment Allowance (AIA)

The Annual Investment Allowance (AIA) £1m temporary cap was due to revert back to £200k per annum from 1 January 2021, however, in a move to support businesses through the current difficult period and stimulate investment in UK manufacturing, HM Treasury has now announced that businesses, including manufacturing firms, can continue to claim up to £1m in same-year tax relief through AIA, for capital investments in plant and machinery, until 1 January 2022.

https://www.gov.uk/government/news/government-extends-1-million-tax-break-to-stimulate-investment-in-uk-manufacturing

For more information or advice on this please contact Mark Moore or fill out the form below and we will be in touch.