Glossary
Annual Investment Allowance
The Annual Investment Allowance (AIA) is a capital allowance that gives 100% tax relief in the year of purchase on qualifying plant and machinery, up to an annual limit. That limit has been set permanently at £1 million a year since 1 April 2023, and a single limit is shared across a group of companies.
Worked example
A trading company spends £250,000 on qualifying plant and machinery in its accounting year. Using the AIA, it can deduct the full £250,000 from its taxable profits that year, rather than spreading the relief over many years through writing down allowances.
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