30 June year ends will benefit from the full 100% relief of £1m for the financial year starting 1 July 2019.
As a reminder, AIA was temporarily increased to £1,000,000 from 1 January 2019 for two years. Transitional rules apply where years fall outside the two-year window, so for December year ends these transitional rules had no real impact.
For June year ends the transitional rules would have the following impact on the maximum allowance that a business can claim:
Year end 30 June 2019 £1m x 6/12 plus original allowance £200,000 x 6/12 = £600,000
Year end 30 June 2020 £1m Year end 30 June 2021 £1m x 6/12 plus reversion back to the original allowance £200,000 x 6/12 = £600,000