Annual Investment Allowance increased for 2 year period (01/01/2019 to 31/12/2020) to £1 million on qualifying assets 

Entrepreneur’s Relief remains, but with extension to minimum qualifying period from 12 to 24 months, effective 6 April 2019 

Apprenticeship schemes: Employer’s co-contribution to halve to 5%

VAT registration threshold to remain unchanged

HMRC to be listed as preferred creditor for insolvent businesses

 

Richmond House Wealth Management view: The general tenor of this section was to promote and reward longer-term development and investment, without significantly curtailing benefits for those already engaged in enterprise projects.  There may yet be repercussions following the decision to list HMRC as a preferred creditor, however the Chancellor appears to want to encourage firms with the ‘carrot’ rather than restrict with the ‘stick’. The effect of these changes is unlikely to be very widely felt, but may yet assist smaller firms in investment planning decisions.