Call for ABHI Members to Support Permanent Full Expensing in the UK
Full expensing is a capital allowance tax scheme that lets UK companies deduct 100% of the cost of capital equipment from their profits in the year it is bought, instead of spreading the cost across multiple tax years. The scheme, which equates to a tax saving of up to 25p for every £1 spent, was introduced in this year's Spring Budget and is set to run through to 31 March 2026.
We believe that if full expensing was made a permanent feature of the UK tax system, it could have a significantly positive impact on business investment. In supporting the Life Science's Vision for the UK as a destination market for the development and manufacture of HealthTech, it can also help to accelerate the drive to Net Zero. As such, we have pledged our support to a letter that Make UK and CBI will submit to the Chancellor in advance of HM Treasury’s Autumn Statement next week.
The letter can be found here, and the more businesses that can put their name to it, the greater impact it is likely to have. To join the list of co-signers, please write to Make UK's Chris Corkan: ccorkan@makeuk.org and Celia Charlwood CCharlwood@makeuk.org by close of play Wednesday 15th November. In writing to Chris and Celia, please state your name and job title.
Thank you in advance for your support of this important call.
