Possibly the most exciting nugget from the Autumn Statement recently released was the tenfold rise in the Annual Investment Allowance as commented on by GrowthBusiness. The figure, currently £25,000 is set to rise to £250,000 and will enable companies to write off a generous amount in capital expenses, from new machinery investment to revamping their IT systems.
Before you set off on an unprecedented business spending spree, keep in mind that there are certain exemptions – for example some assets like cars will not be included, and there will be additional restrictions on the type of business that can participate within AIA (for example mixed partnerships and trustees).