Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the HMRC policy paper entitled, Temporary increase in annual investment allowance for plant and machinery, published 3 March 2021, whether he has made an estimate of the number of firms likely to invest more than £1 million in plant and machinery in (a) England, (b) Wales, (c) Scotland, (d) Northern Ireland and (e) in the UK during the 2021-22 financial year.
The temporary increase in the limit of annual investment allowance (AIA) from £200,000 to £1,000,000 for expenditure on plant and machinery incurred during the period of 1 January to 31 December 2021 was estimated to impact 31,500 businesses.
A geographical breakdown of the number of businesses by levels of capital expenditure in 2021-22 will not be available until HMRC has received and processed the relevant tax returns.