The Capital Allowances Act 2001 (Amendment of Section 45K) Order, SI 2020/260, amends the definition of the qualifying period in which expenditure on plant and machinery for use in designated assisted areas must be incurred to qualify for 100% first year allowances.
The amendment ensures these enhanced capital allowances (ECAs) remain available until at least 31 March 2021. Without this change, the entitlement to ECAs in the earliest of these areas would expire on 31 March 2020. The order comes into force on 1 April 2020.
The Capital Allowances Act 2001 (Amendment of Section 45K) Order, SI 2020/260, amends the definition of the qualifying period in which expenditure on plant and machinery for use in designated assisted areas must be incurred to qualify for 100% first year allowances.
The amendment ensures these enhanced capital allowances (ECAs) remain available until at least 31 March 2021. Without this change, the entitlement to ECAs in the earliest of these areas would expire on 31 March 2020. The order comes into force on 1 April 2020.
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