PART 1 U.K.Income tax, corporation tax and capital gains tax

Capital allowances: other measuresU.K.

[F115Extension of temporary increase in annual investment allowanceU.K.

(1)In section 32(1) of FA 2019 (which increases the maximum amount of the annual investment allowance to £1,000,000 for the period of two years beginning with 1 January 2019), for “two years” substitute “ three years ”.

(2)In consequence of the amendment made by subsection (1)—

(a)in section 32(2) of that Act, for “2021” substitute “ 2022 ”,

(b)in paragraph 2 of Schedule 13 to that Act and the heading before that paragraph, for “2021” (in each place) substitute “ 2022 ”,

(c)in paragraph 3(3)(b) of that Schedule, for “two years” substitute “ three years ”, and

(d)in the heading for that Schedule, for “2021” substitute “ 2022 ”.]