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.... First year capital allowances on plant and machinery and that includes lorries — reduce from 75 per cent to 50 per cent on April 1. First year capital allowances will disappear altogether a year later; thereafter lorries will receive a writing down allowance of 25 per cent per year on a reducing balance basis.
Corporation tax falls from 45 per cent to 40 per cent on April 1. The small companies rate remains at 30 per cent.