THE BUDGET – INCREASE IN ANNUAL INVESTMENT ALLOWANCE AND INVESTMENT IN FIBRE BROADBAND

This week’s Budget included an announcement about an increase to the Annual Investment Allowance from £200,000 to £1m from January 2019.  This relief allows expenditure on plant, machinery, integral features of a building and some fixtures and fittings up to this limit to be set against business income in the year the expenditure occurs.  The new higher threshold will apply for two years.

 

Also announced in the Budget was additional funding to pilot innovative approaches to deploying full fibre internet in rural locations, starting with primary schools, and with a voucher scheme for homes and businesses nearby.  The first wave of this will include the Borderlands, Cornwall, and the Welsh Valleys but it is not clear yet how this will operate.

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