Annual Investment Allowance (AIA) increased limit, to remain

AIA has given businesses, that are investing in commercial property, the opportunity to claim tax relief against the total value of qualifying expenditure. As previously announced, the £1 million limit will be made permanent. Careful tax planning regarding the timing of new capital expenditure can take advantage of the £1m limit in two accounting periods.

Learn more about AIA.

Corporation tax rate increase to go ahead

Despite rumours of this being cancelled, it has now been confirmed that this is going ahead. The Corporation Tax rate for annual profits greater than £250,000 will increase to 25%. With marginal relief available for profits between £50,000 and £250,000.  Companies making profits of £50,000 or less will continue to pay tax at the current rate of 19%. This will be put in place starting April 2023.

Super-deduction changes

Super-deduction will expire on 31st March 2023 as originally planned.

Learn more about super-deduction.

What does our Claims Manager think of the Autumn Statement changes?

” The headline news was all about the increase in the Corporation Tax rate to 25%. However, many small businesses will not make profits of over £250k and will therefore not be subjected to the full tax increase. Keeping the AIA limit at £1m is good news and will hopefully continue to give some incentive for businesses to invest in capital expenditure, including property improvements.”

Dave Corfield, Claims Manager
Lean on our expertise to ensure you have secured all available tax relief...

Latest News

  • Houses of Parliament
    18 November 2022

    Autumn Statement 2022 changes to capital allowances

    On Thursday 17th November 2022, Jeremy Hunt, Chancellor of the Exchequer, took to the podium revealing the UK government’s plan to stabilise finances and retrieve losses with the new Autumn Statement. We have taken a look to better understand how capital allowances have been affected and this is...
  • Office building
    15 November 2022

    What does a capital allowance assessment include for an office?

    There are many different ways in which people set up their office business.  Some people may have built or renovated a property, and some will have bought the building.  Others will simply rent a room from another party and use this as their office.  A capital allowance assessment will calculate the...

Contact Us

Our expert team are here to help answer any of your capital allowances questions or enquires you have about your commercial property.

    Sign up to our Newsletter

    Read Our Privacy Policy