Super Deduction….exciting tax break

Dear All,

We have posted a note on the exciting new 130% tax deduction for companies spending money on qualifying plant and equipment.

click here:

SUPER DEDUCTION

Although corporate tax rates for all but the smallest companies will rise in 2023, for those with capital expenditure plans now, this additional relief will see companies get tax relief for £1.30 for every £1.00 spent (at 19% – means an almost 25p in the £1 saving).  It doesn’t apply to all assets so please get advice before committing to it!

Regards

Donald Parbrook

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