Measure
The government is to extend the current 100% first year allowance for expenditure incurred on electric vehicle charge point equipment for a further four years up to 31 March 2023 for corporation tax purposes and 5 April 2023 for income tax purposes.
Businesses incurring qualifying expenditure on the acquisition of new and unused electric vehicle charge points.
The extension will have effect for expenditure incurred on or after 1 April 2019 until 31 March 2023 for corporation tax purposes and on or after 6 April 2019 until 5 April 2023 for income tax purposes.
The scheme was due to expire in 2019 and this measure will extend the availability of the first year allowance until 2023, which should encourage investment in electric vehicle charging infrastucture.