In the Spring Budget the government announced the largest ever Capital Allowances tax incentives to be introduced for companies investing in their properties and businesses, forecasted to save £8bn a year. The changes are summarised as follows:

Permanent Tax Relief

• Confirmation of £1million annual investment allowance

From 1 April 2023 to 31 March 2026

• ‘Plant and Machinery’ on new and unused assets to attract 100% relief
• ‘Special Rate Pool’ on new and and unused assets to attract 50% first year relief

For 5 Year Period (Dates to be confirmed)

• Enhanced Capital Allowances in new Investment Zones
• Enhanced Structures and Buildings Allowances in new Investment Zones

With the corporation tax increasing by 30% it has never been as important to no