Budget 2015 – Capital Allowances

Annual Investment Allowance

The current AIA is set at £500,000 per annum. and is due to make a significant drop to £25,000 per annum from 1 January 2016.  The Chancellor said that it was clear from his conversations with business groups that a reduction to £25,000 would not be “remotely acceptable” and therefore it will now definitely be set at  a “much more generous” rate.  The question remains as to what that rate will be and this will not be addressed until the Autumn Statement.

 

Anti avoidance rules for plant and machinery

The effect of the capital allowances anti avoidance rules has been clarified where there are transactions between connected parties, sale and leaseback transactions and transfer and hire-purchase transactions.  The measure removes the opportunity for avoidance in this area by restricting the expenditure for the acquiring person to nil.

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Nov 19

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