More than 200 companies asked the UK Treasury to make the full expensing tax incentive permanent in the budget due Nov. 22.

The Confederation of British Industry and Make UK, two business interest groups that represent multinational companies such as AstraZeneca, sent a letter to the Treasury Friday saying that making the incentive permanent would spur more investment, employment, and tax revenues, said Rain Newton-Smith, chief executive of CBI.

Full capital expensing, which will expire in 2026, lets companies use the cost of qualified investment to offset their UK tax bills.

• The incentive was first introduced in March 2023 …