It’s fair to say that there has been a great deal of good news this week in particular about a promising vaccine for Covid 19.
In terms of capital allowances there is more good news from HMRC as they have announced that the temporary increase of the Annual Investment Allowance (AIA) from £200,000 to £1,000,000 has been extended for another year until 1 January 2022.
If you are going to buy, extend, refurbish or fit out a commercial property you may well benefit from capital allowances tax relief and the increased AIA. Please remember that capital allowances may also be available to furnished holiday letting businesses.
This announcement will no doubt be welcomed by the business community and will hopefully support and encourage investment. At Stuart Rivers Associates we certainly hope so and we will be very pleased to talk to you about your plans for the year ahead.