Super-deduction Scheme – you have until 31 March 2023
March 15, 2023You can still benefit from the Government’s Super-deduction Scheme … but not for long!
Is the current economic climate putting you off financing new equipment? At such a tough time, what to do about investing in your equipment is a difficult decision, but there’s still time to take advantage of the Government’s Super-deduction Scheme.
You have until 31st March 2023
WHAT IS IT?
To help companies during Covid, on 1st April 2021, the UK Government started a scheme supporting businesses wanting to purchase plant and machinery.
The Super-deduction Scheme allows companies to cut their tax bill by up to 25p for every £1 they invest.
- This means, based on an investment of £100,000, you can reduce your company tax bill by £24,700!
The good news is that this scheme is still available to you, however, it finishes on the 31st March 2023…
WHAT CAN YOU GET?
Companies investing in qualifying new plant and machinery assets are able to claim:
- 130% super-deduction capital allowance on qualifying plant and machinery investments
- 50% first-year allowance for qualifying special rate asset
… let Sheppex help you benefit from this and invest in some new equipment now, call one of the team on 01959 565 000.
