Need to know
Today marks the start of an exciting tax incentive to boost business investment. From 1 April 2021 until 31 March 2023, companies investing in new equipment can claim:
Capital allowance on qualifying plant and machinery investments that ordinarily qualify for 18% main rate writing down allowances
First-year allowance for qualifying assets that ordinarily qualify for 6% special rate writing down allowances
The super-deduction will allow companies to cut their tax bill by up to 25p for every £1 they invest, helping to further stimulate UK manufacturing and encourage investment in new machinery.
If your pre-investments taxable profit is £200,000 and you invest £100,000 in qualifying new machinery, you will be entitled to claim a capital allowance of £130,000 in that year.
Ready to upgrade?
The super-deduction scheme can work in conjunction with a range of finance options to make your next machine purchase even more affordable.
Contact Star GB or your Area Sales Manager to discuss how the latest sliding headstock technology can enhance your production.