The MTA and Close Brothers Asset Finance have published a new survey which reveals that many manufacturing and engineering firms are not planning to take advantage of the increase in the Annual Investment Allowance (AIA).
In fact, only 42% of manufacturing and engineering companies were aware that the Government had made an increase to the AIA. From 1 January 2019 to 31 December 2020 a temporary increase in the AIA has been introduced. The idea is to enable faster tax relief for plant and machinery investments between £200,000 and £1m.
For further information www.mta.org.uk