Summer Budget: No more yo-yoing of Annual Investment Allowance will help Britain's makers, doers and growers

Summer Budget: No more yo-yoing of Annual Investment...

David Bywater, tax partner at KPMG Enterprise, comments on announcement that the Annual Investment Allowance will be fixed at its highest permanent level.

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Commenting on the Chancellor’s announcement that the Annual Investment Allowance will be fixed at its highest permanent level of £200,000, David Bywater, tax partner at KPMG Enterprise, said:

“The Annual Investment Allowance has been up and down like a yo-yo over the last few years, so today’s announcement gives much-needed certainty to the army of small and medium-sized businesses up and down the UK, hopefully encouraging them to invest in new plant and equipment.

“Britain’s makers, doers and growers will see particular benefit from this. So often, new equipment and technology is the key to improved productivity for our manufacturers, retailers and agricultural businesses, so stimulating investment from them will go a long way to helping address the UK’s productivity gap.”

 

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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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