JCB Finance: five-fold increase in Annual Investment Allowance opens window of opportunity for purchases

WITH so much disruption on the UK’s political landscape it may be difficult to see the wood for the trees.

Tucked away in the Autumn 2018 budget was a valuable temporary tax relief which has gone largely unnoticed but which could allow businesses to invest and grow - effectively benefitting from £1 tax relief for every £1 spent on plant and machinery purchases.

The Annual Investment Allowance (AIA) relief allows expenditure on plant and machinery purchases up to the AIA limit to be set against company profits in the year the expenditure occurs.

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