The government’s aim to spur business investment means you can claim back 130% of tax on investments. This allowance gives businesses the opportunity to claim up to 25 pence for every pound they invest. It is working to help businesses to continue investing during these unforeseen times by giving this tax allowance for investments on both plant and machinery. This opportunity will not only motivate businesses to invest but allow for a more internationally competitive UK capital allowance.
The scheme will last for two years starting from 1 April 2021. Thus, making the super deduction allowance the most attractive tax incentive for business investment ever offered by the British government. To help you understand more about what you can get from this new scheme we have compiled a list of useful information. Use our leaflet to find out more about; whether you qualify, how much your business could benefit and further details below.
The official government website which discusses all of this in more detail can be found by following the link below.