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Super Deduction

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 super-deduction will allow companies to cut their tax bill by up to 25p for every £1 they invest.

The new super deduction applies to assets bought after 1st April 2021 and applies to new equipment only - used plant does not qualify.

The small company's rate of CT is at 19% so, on a £10,000 machine for example, the tax saving through the extra 30% is £570, not a game changer but worth having.

For further information go to https://www.gov.uk/guidance/super-deduction and refer to the attached pdf factsheet.

For a FREE NO OBLIGATION WASTE AUDIT call our sales team NOW on 0845 6036764.

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