There was eggstra special news for businesses looking to plough more money into plant and machinery.
The annual 100% tax allowance for investment is doubled to £500,000 – and will run to the end of 2015.
Barringtons managing director Phil Wood said, – “the annual limit on business investment tax relief was £250,000. Now large businesses, particularly manufacturing industries will have the freedom to invest double that amount, tax free.
More investment in business means much bigger operations developing in our area, with more people needed to run them.
It’s also a shot in the arm for the local export market and those seeking to expand their operations in this direction.”
For more information on how the Annual Investment Allowance can benefit your business please contact Jo Hamilton at our Newcastle office.