The annual investment allowance (AIA) will rise to £1 million for two years, chancellor Philip Hammond announced in the recent budget. Hammond said the AIA will rise to £1 million from £200,000, delivering on a long-standing ask of the British Chambers of Commerce. This allowance will be available from 1 January 2019 to 31 December 2020. This increase is part of the government’s aim to ‘stimulate business investment’, Hammond said.
The annual investment allowance (AIA) is a capital allowance that enables a business to write off the cost of most items of plant and machinery in full against profits in the year in which the expenditure is incurred.
What qualifies? The AIA is available for most items of plant and machinery. This includes capital items used in the business. All types of construction and industrial equipment qualify.
And what doesn’t? The main exclusion is cars. However, 100% first year allowances are available for new and unused cars with CO2 emissions of 75g/km or less. Where first year allowances are not available, writing down allowances are given at the rate of 18% where the car is new and the CO2 emissions are between 75g/km and 130g/km, or where the car is second-hand and the CO2 emissions are below 130g/m. For cars (new and second-hand) where the CO2 emissions are 130g/km or more, writing down allowances are given at the special rate of 8%.
The AIA allowance can be claimed on equipment which is being purchased using a hire purchase scheme which is why our current promotion is an HP scheme with a 3-month initial ‘holiday’ period before the monthly repayment begin.
Here’s a unique offer from Boss Plant Sales when ‘there’s never been a better time to buy’!
Great machines at competitive prices and 3 months before the first of 36 monthly repayments!
Take a holiday with Boss Plant Sales and treat yourself to a brand-new market leading machine from Kubota, Manitou or BOMAG.
T’s & C’s apply.
Contact the team for more info and don’t delay!
Boss Plant Sales is a distributor for the market leading brands Kubota, Manitou, Bomag, Socomec, Ausa, Heimdall and Boss Cabins.
Based in our busy parts department, an opportunity has arisen for a Parts Manager to join our company, to work as part of a professional team, dealing with all aspects of parts ordering, goods inwards, spare parts picking, packing and dispatch.
If you are interested in this role with us please apply by email and include an up to date CV and a note of your salary expectations. Send you application to our Operations Director Denise Page at DPage@bossplantsales.co.uk
Leading business journal Construction Equipment News (CPN) has posted an interesting feature on-line following a visit by Lee Jones, CPN's Editor, to the Ausa HQ in Spain.
You can read the interesting and informative article by clicking on the blue button.