Glass Buildings

SUPER DEDUCTION

Introduced in the recent budget, the capital allowances super deduction will provide limited companies with a 130% allowance for new main rate plant and machinery.

The super deduction of 130% is available to limited companies incurring expenditure on brand new qualifying main rate plant and machinery.

 

The deduction will cover expenditure incurred between 1 April 2021 and 31 March 2023 and is only available to limited companies as it offsets corporation tax.

The super deduction includes expenditure incurred on “Plant and machinery” such as I.T and office equipment, warehouse and factory  machinery and energy efficient installations and solar panels.

In addition to the above, flooring, kitchens & bathroom suites, fire alarms & security systems and more will qualify.

QUALIFYING ITEMS

SUPER DEDUCTION

Expenditure on ‘special rate’ items of plant and machinery will receive a first year 50% deduction with no cap on amount.

 

This will include cold water systems, electrical and heating installations, ventilation machinery, air conditioning units, lifts and more.

SPECIAL RATE DEDUCTION

Growth

WHO CAN CLAIM?

Limited Companies Only

Owner Managed Businesses

Tenants

The Investment in new structures, buildings or equipment that will be leased, will not be covered under either of the 130% or 50% super deductions.

 

Equipment purchased by commercial property landlords with buildings held in a limited company are also excluded.

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WHO/WHAT IS NOT COVERED