Annual Investment Allowance raised to £200k in boost for SMEs
In today's Budget, Chancellor George Osborne confirmed that the Annual Investment Allowance will not fall to £25,000 but be set at £200,000, calling the move a 'major, permanent boost' for investment by SMEs in Britain.
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Osborne said:
"Many small and medium sized businesses have benefitted from our enhanced Annual Investment Allowance. This Allowance was set at £100,000 when we came to office – it is higher now, but without action it will fall to just £25,000 at the end of the year.
"That would especially hit middle-sized companies in areas like manufacturing and agriculture that we want to do more to build up in Britain."
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