Government extends £1million AIA tax break to stimulate investment

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UK Annual Investment Allowance (AIA) £1 million temporary cap will be extended until 1 January 2022.

A £1 million tax break to stimulate investment in UK manufacturing is to be extended, HM Treasury has announced.

Annual Investment Allowance AIA

Businesses, including manufacturing firms, can continue to claim up to £1 million in same-year tax relief through the UK Annual Investment Allowance (AIA) for capital investments in plant and machinery assets until 1 January 2022. The extension of the temporary £1 million cap was originally due to revert to £200,000 on 1 January 2021.

This move is intended to boost confidence as companies look to weather the pandemic and plan for the future.

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