BusinessCompany NewsManufacturers call for bigger investment allowance

Manufacturers call for bigger investment allowance

EEF calls for five-fold increase in annual investment allowance in upcoming Budget

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
greater unemployment.

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
manufacturers.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor