The UK is proposing full capital allowance on qualified assets to boost business investments, in its Spring budget announced Wednesday.
The full expensing measure lets businesses write off the cost of plant and machinery assets against taxable income for three years, from April 1 to March 31, 2026. The capital allowance regime includes a 100% allowance for main rate assets such as warehousing equipment and a 50% allowance for special rate assets such as solar panels.
Both measures replace the popular “super-deduction,” which allows companies to deduct 130% of investment spending from their taxable profits.
Chancellor of the ...
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