# Finance Act 2021, Section 15: Extension of temporary increase in annual investment allowance


(1) In section 32(1) of FA 2019 (which increases the maximum amount of the annual investment allowance to £1,000,000 for the period of two years beginning with 1 January 2019), for “two years” substitute “ three years ”.
(2) In consequence of the amendment made by subsection (1)—
(a) in section 32(2) of that Act, for “2021” substitute “ 2022 ”,
(b) in paragraph 2 of Schedule 13 to that Act and the heading before that paragraph, for “2021” (in each place) substitute “ 2022 ”,
(c) in paragraph 3(3)(b) of that Schedule, for “two years” substitute “ three years ”, and
(d) in the heading for that Schedule, for “2021” substitute “ 2022 ”.

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Source: https://www.legislation.gov.uk/ukpga/2021/26/section/15 (the official version)
Page: https://openlegislation.uk/finance-act-2021/section-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.