Section 10 — Finance Act 2014: Temporary increase in annual investment allowance

Temporary increase in annual investment allowance 10 1 In relation to expenditure incurred during the period beginning with the start date and ending with 31 December 2015, section 51A of CAA 2001 (entitlement to annual investment allowance) has effect as if in subsection (5) the amount specified as the maximum allowance (which in the absence of this section would be £250,000 in relation to expenditure incurred before 1 January 2015 and £25,000 in relation to expenditure incurred on or after that date) were £500,000.

2 Schedule 2 contains—

a provision about chargeable periods which straddle the start date or 1 January 2016, and b amendments of FA 2013.

3 In this section and that Schedule “ the start date ” means—

a for corporation tax purposes, 1 April 2014, and b for income tax purposes, 6 April 2014.