Updated: Jul 5, 2020
Today’s Budget announced some significant changes to the capital allowances rules and we are pleased to summarise these below: –
Increase in Annual Investment Allowance to £1,000,000 from 1 January 2019
A New 2% Structural Building Allowance from 29 October 2018 (legislation pending) which is to be partly funded by a reduction in the writing down rate for long life assets from 8% to 6%
Removing Enhanced Capital Allowances from April 2020
Extending First Year Allowances for Electric Vehicle Charge Points
Clarification of allowances for costs of altering land (effective from 29 October 2018)
If you have any questions whatsoever, please do not hesitate to get in touch.