Introduction Summary
1.Section 7 and Schedule 1 introduce provisions to increase the maximum amount of the annual investment allowance (AIA) from £25,000 to £250,000 for a temporary period of two years. The increase is effective for expenditure incurred on or after 1 January 2013 and before 1 January 2015. Schedule 1 contains provisions about chargeable periods which straddle 1 January 2013 or 1 January 2015. Schedule 1 may be seen as falling into three main parts: the first gives the rules for chargeable periods that straddle 1 January 2013; the second gives the rules for chargeable periods that straddle 1 January 2015; and the third explains how the rules relating to a shared AIA are modified.