Super-deduction for capital allowances ends on 31 March 2023

Written By Richard Morrell

Super-deduction for capital allowances ends on 31 March 2023.

You can claim if all of the following apply:

  • your company is subject to Corporation Tax

  • you incurred the expenditure on or after 1 April 2021, but before 1 April 2023

  • you did not buy the plant and machinery due to a contract you entered into before 3 March 2021

So, if you are looking to buy any ‘plant and machinery’ for the company and you would like to claim 130% tax relief on the cost, you will need to buy the asset before the end of this month.

‘Plant and machinery’ includes tools, equipment, electrical goods, vans etc. used in the business. The only condition is that the asset must be new, not second hand.

For more information, visit www.gov.uk/guidance/check-if-you-can-claim-super-deduction-or-special-rate-first-year-allowances.

Please get in touch if you have any queries.

Richard Morrell
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