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UK Enacts Finance Act 2024 Including Permanent Full Expensing for Plant and Machinery, Merged R&D Scheme, and Other Changes

|Approved Changes|United Kingdom
United Kingdom

The UK has published the Finance Act 2024, which received royal assent (was enacted) on 22 February 2024. The Act provides for the implementation of the measures announced as part of the Autumn Statement 2023. Some of the main measures are summarized as follows:

Permanent Full Expensing for Plant and Machinery

The full expensing previously introduced for three years is made permanent, so t…

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