Are You Making The Most of The 130% Super Tax Deduction?
What is The Super Tax Deduction?
The new super tax deduction is the single biggest tax incentive any UK government has ever given for business investment into assets and equipment.
For expenditure incurred from 1 April 2021 until the end of March 2023, companies can claim 130% capital allowances on qualifying plant and machinery investments. Under this super tax deduction, for every £1 you spend on qualifying plant and machinery equipment, you’ll get 25p back.
What Equipment Qualifies?
Most tangible capital assets used in the course of a business are considered plant and machinery for the purposes of claiming capital allowances. There is not an exhaustive list of plant and machinery assets. The kinds of assets which may qualify for either the super-deduction or the 50% FYA include, but are not limited to:
- Solar panels
- Computer equipment and servers
- Tractors, lorries, vans
- Ladders, drills, cranes
- Office chairs and desks,
- Electric vehicle charge points
If you are looking to make additional investments to help grow and improve your business this deduction tax will help you to bring these planned investments forward as well as allowing you to incur lower costs. And of course, at brokenStones we’d love you to have some shiny new computer equipment. Having quicker computers will be sure to put a smile on your employees faces as well! Plus, if you have any new staff starting, nothing gives a warm welcome like some brand-new computer equipment!
Keen To Know More?
Find out more about this incredible opportunity and how to make the most of it here.