Articles
At the Spring Budget 2023, Jeremy Hunt announced a new relief for capital expenditure to replace the Super Deduction that came to an end at that time. The new regime was called Full Expensing and was originally announced to be... Read more
At the Spring Budget 2023, Jeremy Hunt announced a new relief for capital expenditure to replace the Super Deduction that came to an end at that time. The new regime was called Full Expensing and was originally announced to be available for a 3 year period to 31 March 2026.
Today, Hunt has announced that this end date will be scrapped so that the Full Expensing regime becomes a permanent relief.
The Government have also announced that they will launch a technical consultation on wider changes to the plant and machinery capital allowances legislation which dates back to 2001. The introduction of full expensing provides an opportunity to consider simplifying, condensing or reducing the broader legislation.
This is good news for businesses that regularly spend large amounts on plant and machinery or have an intention to do so in the future.
THE AUTHOR
Partner
More & Other Musings
View all related contentNEW Articles12 Mar 2026
Although far less generous than last year’s increase, the rate of compensation paid to smaller employers for administering statutory payments will go up from 8.5% to 9% from 6 April 2026.
FEATURED Articles12 Mar 2026
The Employment Rights Act 2025 represents a substantial overhaul of UK employment law and, while many of the headline reforms will not come into force until 2027, employers should be aware of the changes to UK employment law coming into effect from April 2026. These changes will fundamentally alter how businesses of all sizes manage sick pay, parental leave, redundancies, and more.
NEW Articles10 Mar 2026
Understanding the rules for filing the R&D CNF will help you avoid missing out on this relief for your business.
NEW Articles10 Mar 2026
6 April brings a variety of changes to the tax rules.
NEW Articles10 Mar 2026
Despite running for over two years, HMRC’s cryptoasset disclosure service has only generated just over £4 million in disclosures. An indication, perhaps, of the low level of awareness and compliance surrounding cryptoassets.