As announced in the March 2021 Spring Budget, from 1st April 2021 until March 2023, companies investing in qualifying new plant and machinery will be able to claim:
The super-deduction will allow companies to cut their tax bill by up to 25p for every £1 they invest. This super-deduction will encourage firms to invest in productivity enhancing plant and machinery assets that will help them grow, and to make those investments now.
The calculator is for illustrative purposes only. Please speak with your accountant to discuss your individual circumstances.
Most tangible capital assets used in the course of a business are considered plant and machinery for the purposes of claiming capital allowances. There is not an exhaustive list of plant and machinery assets.
The kinds of assets which may qualify for either the super-deduction or the 50% FYA (First Year Allowance) include, but are not limited to:
Also announced in the March 2021 Budget was a £1m AIA (Annual Investment Allowance), whereby 100% of Used Assets can be offset against taxable profit, although this is only available until 31st December 2021.
FFP SolutionsOld Bank Chambers, High Street,St Asaph, LL17 0RD
Registered in England and Wales Company No. 08958626, Registered Address: Unit 32 Llys Edmund Prys, St. Asaph, Denbighshire, LL17 0JAFFP Solutions Ltd is a credit broker and not a lender and is entered on the FCA register under reference 624257You can find FFP Solutions on the Data protection public register under reference: ZA056605
YOUR HOME OR YOUR COMMERCIAL PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
THE GUIDANCE PROVIDED WITHIN THIS WEBSITE IS SUBJECT TO THE UK REGULATORY REGIME AND IS THEREFORE PRIMARILY TARGETED AT CONSUMERS IN THE UK
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