Following the Autumn Statement at the end of November 2011, more information is now available in respect of the proposal to give 100% first year allowances on plant and machinery expenditure for use in some Enterprise Zone areas.
The relief will only be available to trading companies.
The plant must be new and represent an investment not a replacement of existing plant.
The plant must be used primarily in designated assisted areas within Enterprise Zones.
The allowance will apply for purchases made from 1 April 2012 up to 31 March 2017.
Some businesses and some types of expenditure are specifically excluded from the provisions.
If you would like to discuss your investment policy to maximise the tax relief available to you please give us a ring.