Did you know?

Between 1 st April 2021 – 31 st March 2023, Limited companies can claim 130% of the value of the item bought and write it off against your corporation tax bill!

but what does this mean?In short it means every pound a company invests, their taxes are cut by up to 25p.

Examples of the super-deduction in place.

What is plant and machinery?

Most tangible capital assets used in the course of a business are considered plant andmachinery for the purposes of claiming allowances. The kinds of assets which may qualify for either the super-deduction (or the 50% FYA include): Solar panels, Computer equipment and servers, Tractors, lorries, vans, Ladders, drills, cranes, Office chairs and desks, Electric vehicle charge points, Refrigeration units, Compressors, Foundry equipment

* It must be mentioned that this is not an exhausted list but covers off the kinds of assets it relates to.

Why is this in place and what’s the catch.?

Since the Covid-19 business investment has fallen and this the governments measure to help the economy get a boost. Making capital allowances more generous works to stimulate business investment. The super-deduction will give companies a strong incentive to make additional investments, and to bring planned investments forward. The only catch is its end on 31 st March 2023 so it’s a limited time offer essentially.

Tell me more… if you want to look a little further…

Give us a call to discuss further and see how we can help you cut your tax bill!

0800 061 4619 or communication@dlraccounting.com