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130% capital Allowance on Plant & Machinery

Super-Deduction - 130% capital Allowance on Plant & Machinery

If you are considering investing in new computer hardware or software then this is a good time to take advantage of the Super-Deduction capital allowance, announced by the Treasury last week. Businesses will be able to offset 130% of investment spending on plant and machinery against profits for the next two years, equating to a cut in a tax bill by up to 25p for every £1 invested.

From 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will be able to claim:

  • a 130% super-deduction capital allowance on qualifying plant and machinery investments

  • a 50% first-year allowance for qualifying special rate assets

The scheme is hoped to encourage firms to invest in productivity-enhancing equipment to help then grow. If you are considering an equipment upgrade, call Richard who will be happy to advise you.

Contact Richard for more information

T: 0113 234 1548


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