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  • The planned reduction in the AIA limit to £200,000 from 1 April 2023 will be scrapped.
  • The AIA limit to be permanently set at £1 million. This was confirmed at Autumn Statement 2022.

This announcement comes alongside plans to develop Investment Zones in 38 local authorities in England which will benefit from additional enhanced capital allowances.

Useful guides on this topic

Mini-budget 2022: at a glance
A summary for SMEs and their owners

Annual Investment Allowance (AIA)
What is the Annual Investment Allowance? What are the limits? What expenditure qualifies? 

Annual Investment Allowance (AIA): Connected companies
When are companies connected for AIA purposes? What are the consequences of connection?  

External link

The Growth Plan 2022: policy paper 

The Growth Plan 2022: Factsheet on Corporation Tax

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