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The £1m temporary increase in the AIA was due to end on 31 December 2021. This was extended to 31 March 2023 by Finance Act 2022.
At the Mini-budget on 23 September 2022, It was announced that:
The planned reduction in the AIA limit to £200,000 from 1 April 2023 will be scrapped.
The AIA limit will be permanently set at £1 million.
This permanent increase was confirmed on 17 November 2022, in the Autumn Statement.
*The Super Deduction is available only to companies, at a rate of 130% for main rate assets, 50% for special rate assets (i.e. Fixtures and Integral Features), or 100% for assets used partly for ring-fenced trades and partly for qualifying trades (on apportionment). The Super Deduction is available for qualifying expenditures incurred between 1 April 2021 and 31 March 2023.
** The Spring Finance Bill 2023 will extend the 100% First Year Allowance for electric vehicle charge points to 31 March 2025 for Corporation Tax purposes and 5 April 2025 for Income Tax purposes.