Super-deduction Tax Break
Updated: Mar 16
Several of our clients have already and are looking to take advantage of the new incentive rule for the so called ‘super-deduction tax break’.
This UK scheme came into force from the 1st April 2021, and will run until 31st March 2023, and it will allow businesses to claim 130% capital allowances on qualifying plant and machinery investments.
It’s aim is to provide up to 25% off the tax bill for every pound spent on purchases of plant and machinery during this period, and is available to any business that pays corporation tax and has eligible purchases. Only new equipment is eligible, used equipment is not.
Director of Accounting