‘Super-deduction’ for plant and machinery
The Government has announced the rollout of a ‘super-deduction’ on investments in qualifying new plant and machinery assets for construction businesses.
This includes a new 130% first-year capital allowance for qualifying plant and machinery assets, and a 50% first-year allowance for qualifying special rate assets.
The super-deduction will allow companies to cut their tax bill by up to 25p for every £1 they invest, ensuring the UK capital allowances regime is amongst the world’s most competitive.
For more information, visit this page.