Finance Act 2021

[F1 15 Extension of temporary increase in annual investment allowance U.K.

(1) In section 32(1) of FA 2019 (which increases the maximum amount of the annual investment allowance to £1,000,000 for the period of two years beginning with 1 January 2019), for “two years” substitute “ three years ”.

(2) In consequence of the amendment made by subsection (1)—

(a) in section 32(2) of that Act, for “2021” substitute “ 2022 ”,

(b) in paragraph 2 of Schedule 13 to that Act and the heading before that paragraph, for “2021” (in each place) substitute “ 2022 ”,

(c) in paragraph 3(3)(b) of that Schedule, for “two years” substitute “ three years ”, and

(d) in the heading for that Schedule, for “2021” substitute “ 2022 ”.]

Textual Amendments

F1 S. 15 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)