Full expensing made permanent in Autumn Statement

Wed, 22/11/2023 - 14:50

The Autumn Statement confirms that the Full Expensing policy, which may help altnets reduce rollout costs, will be made permanent.

The Full Expensing policy, first introduced in March 2023 and initially set to expire in two and a half years, allows businesses to write off the full cost of qualifying plant and machinery investment.

Full Expensing replaced the previous super deduction which ran from April 2021 to March 2023.

This will be positive news for Philip Jansen, who last week called for tax incentives that encourage investment into fibre.

The statement reads: “Worth over £10 billion a year, full expensing is the biggest business tax cut in modern British history.”

Further changes to speed up the roll out were also alluded to. “The government is removing barriers to investment in critical infrastructure by reforming the planning system to speed up approvals and setting out a plan to reduce the time it takes for new projects to connect to the grid.”