Capital allowances, Super Deduction dont forget to Claim

Tip: Claim 130% Super deduction

  1. This is a tax relief available to limited companies till 31 March 2023 and is to encourage businesses to invest in new equipment.
  2. The investment gives 130% tax deduction on the purchase price.
  3. The equipment must be New.
  4. Must be purchased before 31 March 2023.
  5. Must be within a Limited company. It is not available to sole traders or partnerships which are unincorporated business.
  6. The tax relief is claimed through your CT600 tax return.
  7. The super-deduction is designed to help companies finance expansion in the wake of the coronavirus pandemic and help to drive growth. 

    In addition, an enhanced first year allowance of 50% on qualifying special rate assets has also been introduced for expenditure within the same period. This includes most new plant and machinery investments that ordinarily qualify for 6% special rate writing down allowances. 

” Businesses are continuing to miss out on generous tax reliefs due to a lack of knowledge or proactive advice from their accountants “, Ahmed Ali ACA FCCA, Director

There are various other criteria that need to be detailed. To find out more and to see if your business qualifies, contact AGA Accountants in Aylesbury servicing a national portfolio of businesses and individuals.

Whats next

Changing accountants is a straightforward process. Leave it to us. We will explain the process.

Contact us to arrange a free consultation with our Managing Director Ahmed Ali ACA FCCA. Contact: 01296 761 516 or 0203 389 9588.

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