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Super deduction - Last call

Updated: Mar 13

This tax relief was put in place to help aid businesses during the pandemic, but it was just for a limited time and will be ending on 31 March 2023.

Super-deduction is an allowance that enables companies, that are subject to Corporation Tax, to claim 130% capital allowances on purchases of new qualifying plant and machinery. It allows businesses to make additional investments in their company.

This allowance was introduced by the government for capital spent between 1 April 2021 and 31 March 2023, to encourage business growth and investment after businesses took a hit financially during the pandemic.

To qualify, the plant and machinery must be new and can include computer equipment, office furniture, etc. If you are uncertain as to what can be included, please contact your accounts manager.

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