Capital allowances for SMEs should be extended in Alistair
Darling’s forthcoming Budget (22 April), the Finance & Leasing
Association (FLA) said.
“The aim is to pump-prime struggling small businesses so that
they can continue to obtain finance for investment by leasing new
equipment, such as office technology, commercial vehicles and plant
and machinery,” the association announced.
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The FLA wants the Chancellor to extend the government’s Enhanced
Capital Allowances Scheme and allow SMEs to offset more capital
expenditure on business equipment against taxable profits, by
removing the current enhanced capital allowance limit of
£50,000.
The FLA’s proposal has won the support of the Association of
Chartered Certified Accountants, the National Federation of
Enterprise Agencies and the Forum for Private Business.
Stephen Sklaroff, FLA director-general said: “We are discussing
with the government how to ensure a continued flow of funds to
businesses via asset finance.
“This further proposal would ensure that business investment was
more affordable for more businesses and would be a win both for the
Exchequer and for SMEs.”
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