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Super Annual Investment Allowance Ending

A little nugget of gold for all the Limited Companies. As an incentive to invest during Covid, the government introduced something called the super annual allowance. An annual allowance is open to Limited Companies only and refers to the tax relief on any assets purchased.

The upgraded AIA was introduced on the 1st April 2021 and ends on the 31st March 2023. Companies investing in qualifying new assets will benefit from a 130% first-year capital allowance. What this means is Limited Companies can cut their tax bill by up to 25p for every £1 they invest.

However, there are some criteria to qualify. This is only available on new assets, not second hand assets. It does include purchases like solar panels, tractors, lorries and vans, fire alarm systems, security systems, carpets, computer equipment and servers, office desks and furniture, refrigeration units and electric vehicle charging points.

If you are looking for new equipment then now is the time to buy it.

Get in touch if you have any questions.

Photo by Esteban López on Unsplash

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