The UK Gov is making it cheaper for you to buy IT hardware 💰
What is super-deduction?
It’s new temporary tax relief.
When limited companies buy certain new equipment (including computers) you can claim 130% capital allowance.
So if you spend £1,000 on Computer equipment, it will reduce your corporation tax bill as if they had spent £1,300.
What the UK Gov has to say
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.
The government has offered unprecedented support for businesses during Covid. Even so, pandemic-related economic shocks and the accompanying uncertainty have chilled business investment. This super-deduction will encourage firms to invest in productivity-enhancing plant and machinery assets that will help them grow, and to make those investments now.