Jeremy Hunt to make ‘full expensing’ capital allowance regime permanent The Chancellor will make permanent a £10bn-a-year tax break for companies that invest in equipment and technology, according to the Times. In his Autumn Statement today, Jeremy Hunt will tout the move as the biggest tax cut for businesses in modern British history. The Chancellor’s flagship reform to boost Britain’s growth rate will be the permanent extension of “full expensing”, which allows a company to immediately deduct all of its spending on IT equipment, plant or machinery from taxable profits. The scheme was due to expire in 2026 and businesses lobbied hard to get it extended.