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 £25,000 to £250,000, but only in relation to expenditure incurred during the two-year period beginning on 1 January 2013. For expenditure incurred on or after 1 January 2015, the maximum AIA returns to its previous limit of £25,000.
3.Subsection (2) introduces Schedule 1, which contains provisions about chargeable periods that straddle 1 January 2013 or 1 January 2015.