With the temporary, two year increase of the Annual Investment Allowance (AIA) – 2019/2020 is the right time to buy plant and machinery. So, if you are considering a new machine – call us and benefit!
The November 2018 Budget brought a number of changes for capital allowances, the main one being an increase in the Annual Investment Allowance (AIA).
From this January the AIA will increase to £1m for 2 years, (1st January 2019 to 31 December 2020). Businesses may find that spending in 2019 or beyond can take advantage of this higher allowance and the cashflow advantage it will give. Also note that businesses do not need to buy the assets outright, in most cases they can hire purchase the assets and receive the full allowance.
So, I guess what we’re saying is that there’s no better time to buy a new grinding, honing or cut-off machine from us than now!
Call us to discuss how the machines we sell and service can help you in your business
SSP Technology – Your partner in precision honing and grinding equipment.
For more information about the Annual Investment Allowance, please visit the official GOV.UK website by clicking here –https://www.gov.uk/capital-allowances/annual-investment-allowance
A comment from the MTA (Manufacturing Technologies Association) states:
“For manufacturers – and indeed business more widely – the best news was the expansion of the Annual Investment Allowance from £200,000 to a whopping £1,000,000 for the next two years. This was a specific ‘ask’ from the MTA and we are very pleased that the Chancellor agreed with us that it was wise move to boost investment in a difficult climate. The change, which will apply to any purchase agreed on or after the 1st of January 2019, is a potentially huge boost for machinery and equipment suppliers over the next two years and should encourage more of our industry’s customers to invest in the latest technology.”
On raising the Annual Investment Allowance, Suren Thiru, Head of Economics told the British Chamber of Commerce:
“Increasing the Annual Investment Allowance to £1m was the central ask of the BCC and we’re delighted the Chancellor has listened to our call for bold measures at this time of uncertainty. This announcement will provide a major enticement for firms to invest and grow. It will give companies across the UK the confidence to push ahead with investments in plant & machinery, property and staff training.
“We are also pleased that the Chancellor delivered on our call to incentive investment in new buildings through a 2% capital allowance.”
We sell Schneeberger, Pemamo machines among others - full ranges of grinding, honing, cut-off machines, filtration systems plus grinding and honing consumables in our online shop. #AIA #annualinvestmentallowance #capitalexpenditure #machinerypurchase #B2B #SmallBiz #business