Introduction Details of the Section
2.Subsection (1) amends section 51A(5) of the Capital Allowances Act 2001 (CAA) so that the maximum AIA that can be claimed for a 12 month chargeable period is increased from £250,000 to £500,000, in relation to expenditure incurred on or after the start date of     1 April 2014 (CT) or 6 April 2014 (IT) and, in each case, on or before 31 December 2015.  For expenditure incurred on or after 1 January 2016, the maximum AIA returns to its previous limit of £25,000.
3.Subsection (2) provides that Schedule 2 contains provisions about chargeable periods that straddle the start date or 1 January 2016, and amends or repeals certain of the provisions of section 7 and Schedule 1 Finance Act 2013 by which the maximum AIA was increased from £25,000 to £250,000 for a period from 1 January 2013 to 31 December 2014.
4.Subsection (3) explains that the start date means 1 (or 6) April 2014.