The ATT
is calling for the temporary £1m annual investment allowance limit to be
extended by at least 12 months, to 31 December 2021, to help businesses as they
recover from the impact of coronavirus. Jeremy Coker, ATT President, commented:
‘It would not be very helpful if the incentive to invest in plant and machinery
evaporated on the stroke of midnight on 31 December 2020 just when businesses
were hopefully beginning to see signs of recovery in 2021 which would provide
the necessary confidence to make such investment. I know there are many reasons
for the Chancellor to already be thinking of his next Budget but it would be
helpful to businesses if he were to indicate in advance of Budget Day whether
or not the temporary increase will continue beyond 31 December 2020.’
The ATT
is calling for the temporary £1m annual investment allowance limit to be
extended by at least 12 months, to 31 December 2021, to help businesses as they
recover from the impact of coronavirus. Jeremy Coker, ATT President, commented:
‘It would not be very helpful if the incentive to invest in plant and machinery
evaporated on the stroke of midnight on 31 December 2020 just when businesses
were hopefully beginning to see signs of recovery in 2021 which would provide
the necessary confidence to make such investment. I know there are many reasons
for the Chancellor to already be thinking of his next Budget but it would be
helpful to businesses if he were to indicate in advance of Budget Day whether
or not the temporary increase will continue beyond 31 December 2020.’
