Manufacturing industry body EEF wants the government to temporarily increase
the investment allowance for manufacturers in the upcoming budget.
Warning that output would contract by 10 per cent this year, the body argued
that short-term measures were urgently needed to avoid corporate collapses and
EEF is calling for a five-fold increase in the annual investment allowance,
taking it from £50,000 to £250,000. It is a 100 per cent allowance for business
expenditure on plant and machinery, excluding cars and can be claimed by
businesses of any size.
EEF is also lobbying for a number of other tax changes for inclusion in the
April 22 budget. It wants relief on business rates on empty property to be
restored, a temporary extension of a payable R&D tax credit for low-carbon
companies and a temporary scrappage incentive scheme for motor vehicle
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states