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Effects of the latest changes to the annual investment allowance.
KEY POINTS
- The maximum level of AIA will fall from January 2016.
- The changes can already have an impact for expenditure incurred now.
- They can affect businesses with low levels of capital expenditure (even under £20 000).
- The timing of expenditure on plant or machinery over the coming months can make a huge difference to the AIAs available.
The annual investment allowance (AIA) is a welcome mechanism for accelerating tax relief for many businesses. It also provides genuine simplification in that most expenditure on plant and machinery can be written off for tax purposes at the outset rather than requiring computations to be carried forward indefinitely.
The exclusion of cars from the allowances lessens the degree of simplification but arguably there...
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