Potential reforms to the UK’s capital allowance regime

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You may be aware that in the Spring Statement, the Chancellor announced a review of the capital allowances system in advance of the Autumn Budget. Yesterday the Treasury published a call for input to the review.

https://www.gov.uk/government/publications/potential-reforms-to-uks-capital-allowance-regime-inviting-views/potential-reforms-to-uks-capital-allowance-regime-inviting-views

In addition to the options set out in the Spring Statement, the Call is specifically requesting evidence on issues such as:

  • How firms make investment decisions, the relative importance of capital allowances in those decisions, and how they are taken into account.
  • Views on how the super-deduction has affected the investment decisions of businesses.
  • What more the capital allowances regime can do to support business investment.

HMG would, of course, be encouraging the Manufacturing Sector to participate in the call for evidence. We are certainly aware the sector has previously called for an extension of the super-deduction scheme.

Call to action: Please give us your feedback – so we can respond to the Treasury on behalf of the sector.  Send your feedback to info@thecea.org.uk

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