130% Super-deduction ends 31 March 2023- make use of it
The 130% super-deduction for investment in plant and machinery was introduced in the March 2021 Budget, to encourage capital expenditure.
This enhanced tax deduction was made available to limited companies that acquire new plant and machinery between 1 April 2021 and 31 March 2023.
To qualify, expenditure must be incurred before the 31 March 2023 deadline, so companies should consider bringing forward plans to acquire new plant to benefit from this additional tax allowance before it is removed.
For further information on company loss relief, please contact James Flood on 023 8046 1244.