Autumn Statement 2014: Tax relief for expenditure on flood defences

The government has published its 6-year programme of investment in flood defences, allocating the £2.3 billion capital funding provided at Spending Round 2013 with further sums earmarked subject to review.

The government is keen to encourage private investment in flood defences and will legislate to ensure that, from 1 January 2015, business contributions to Flood and Coastal Erosion Risk Management (FCERM) projects will be deductible expenditure for Corporation Tax and Income Tax purposes.