New first-year allowance and main rate of writing-down allowances
This tax information and impact note details the new first year allowance and reduction of the main rate of writing down allowances.
↓
Linked documents
▤ Verbatim text from source document
This measure introduces a new 40% first year allowance for expenditure incurred on or after 1 January 2026. It reduces the main rate of writing down allowances to 14% from:
- 1 April 2026 for Corporation Tax
- 6 April 2026 for Income Tax