top of page
Capital Allowances
Motor Car CGT.jpg

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. 

bottom of page