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Finance Act 2022
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[F112Extension of temporary increase in annual investment allowanceU.K.
(1)In section 32(1) of FA 2019 (which increases the maximum amount of the annual investment allowance to £1,000,000 until 31 December 2021), for “the period of three years beginning with 1 January 2019” substitute “the period beginning with 1 January 2019 and ending with 31 March 2023”.
(2)In consequence of the amendment made by subsection (1)—
(a)in section 32(2) of that Act, for “1 January 2022” substitute “1 April 2023”,
(b)in paragraph 2 of Schedule 13 to that Act and the heading before that paragraph, for “1 January 2022” (in each place) substitute “1 April 2023”,
(c)in paragraph 3(3)(b) of that Schedule, for “the period of three years beginning with 1 January 2019” substitute “the period beginning with 1 January 2019 and ending with 31 March 2023”, and
(d)in the heading for that Schedule, for “1 January 2022” substitute “1 April 2023”.]
Textual Amendments
F1S. 12 ceases to have effect in part (11.7.2023 in relation to chargeable periods beginning before 1.4.2023 and ending on or after that date) by virtue of Finance (No. 2) Act 2023 (c. 30), s. 8(2)(b)(3)(b)
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