UK To Offer Expanded Annual Investment Allowance Until 2022
by Jason Gorringe, Tax-News.com, London
17 November 2020
The UK Government has announced that the temporary GBP1m (USD1.31m) cap for the Annual Investment Allowance (AIA) will be extended until January 1, 2022.
Businesses can claim up to GBP1m in same-year tax relief through the AIA for capital investments in plant and machinery assets. The inflated limit was due to revert to GBP200,000 from January 1, 2021.
Financial Secretary to the Treasury Jesse Norman said: "It is vital that we support business through the difficult months ahead. Extending the Annual Investment Allowance's GBP1m cap will give businesses the confidence they need to invest into next year, helping them to grow whilst benefitting the wider economy too."
To see today's news, click here.
Tax-News Reviews

A review and forecast of Cyprus's international business, legal and investment climate.

A review and forecast of Malta's international business, legal and investment climate.

A review and forecast of Jersey's international business, legal and investment climate.

A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »
Network Blogs and Features
- I.T. is IT! »
- What Is a Registered Agent, and Why You Need a Registered Agent for Your Business? »
- Spring Cleaning? »
- Brexit and Covid and Tax, Oh My! »
- Why is the Hong Kong startup ecosystem growing rapidly? »
- Happy Holidays? »
- COVID Continues To Capture Headlines »
- Taxing The Zeroes And Ones »
- Value Added News... »
- Form a Wyoming Corporation - Guide »