Now is the time for companies to consider their asset purchases and make the most of the Super Deduction and First Year Allowances (FYA) before they disappear on 31 March 2023. Budget 2021 introduced the Super Deduction worth up to 130% on qualifying asset expenditure, i.e. assets which would qualify as main rate pool additions written down at 18%. The … Read More
Budget 2021 – what the Super Deduction means for your business
In this year’s Budget, Chancellor Rishi Sunak announced the introduction of a ‘Super Deduction’ of 130% providing enhanced tax relief on qualifying capital expenditure. The enhanced rate is available from 1 April 2021 until 31 March 2023 for businesses investing in qualifying plant & machinery and qualifng expenditure includes items such as processing equipment, commercial vehicles and computer & IT … Read More