In Philip Hammond’s first (and last – see below) Autumn Statement, there was little new announced in relation to capital allowances.


With much laughter in the house, it was announced this is the last Autumn Statement as from 2017 there will be an Autumn Budget, followed by a Spring 2018 statement.  However this statement is expected to only respond to the Office of Budget Responsibility (OBR) spring forecast. 


There will still be a Spring Budget in 2017!


Electric Charging Points – 100% allowance


There will be 100% capital allowances for expenditure incurred on charging points for electric vehicles.  This is effective from today until 1 April 2019 (Corporation Tax) and 5 April 2019 (Income Tax).


As previously announced:


Business Premises Renovation Allowance (BPRA) - The 100% allowance for converting vacant properties in designated disadvantaged areas will end from 1 April 2017 (Corporation Tax) and 5 April 2017 (Income Tax).

Annual Investment Allowance (AIA) - The 100% AIA remains at £200,000.

Corporation Tax (CT) Rates - CT rates will fall to 19% from 1 April 2017. 


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