Chancellor makes Full Expensing permanent in Autumn Statement

Chancellor Jeremy Hunt used his Autumn Statement to make Full Expensing permanent for those businesses investing in IT equipment, plant and machinery.

Full Expensing was first announced in the March Budget and was scheduled to last for three years. The rules allow a 100% write-off on qualifying expenditure on most plant and machinery (excluding cars) as long as it is unused and not second-hand.

Mr Hunt has now made it permanent.

There is also a business rates support package over the next five years to help high streets and small businesses, which includes a rollover of the 75% retail, hospitality and leisure relief.