UHY Ross Brooke Chartered Accountants
The secret of a good joke may be timing, but get this wrong and no-one will be laughing. The Annual Investment Allowance is the amount that a company can obtain a 100% write down against its profits each year for qualifying expenditure on items such as plant and machinery etc.
In yesterday’s surprise announcement the Chancellor announced that the Annual Investment Allowance (AIA) for capital expenditure will be doubled from £250,000 to £500,000 from 1 April 2014, for companies or 6 April 2014 for unincorporated businesses until 31 December 2015. The AIA will return to £25,000 after this date. This