In the 3 March 2021 Budget, the Government announced new temporary tax reliefs on qualifying capital asset investments from 1 April 2021.
This measure will temporarily introduce increased reliefs for expenditure on plant and machinery. For qualifying expenditures incurred from 1 April 2021 up to and including 31 March 2023, companies can claim in the period of investment:
- A super-deduction providing allowances of 130% on most new plant and machinery investments that ordinarily qualify for 18% main rate writing down allowances
- A first year allowance of 50% on most new plant and machinery investments that ordinarily qualify for 6% special rate writing down allowances
This is a great opportunity for businesses to invest in new plant machinery to secure their future success. As a full turnkey systems integrator CKF can do a complete, no obligation analysis to identify the right solution for prospective customers to ensure they are utilising the latest technology to its best advantage for their business.
CKF will fully design, manufacture and install the solution to the highest standard and offer ongoing support and training.
Get in touch today to find out how CKF can work with you to ensure your operations are more agile, productive, safer and cost effective info@ckf.co.uk / +44 (0)1452 728753
For the full policy paper please visit https://www.gov.uk/government/publications/new-temporary-tax-reliefs-on-qualifying-capital-asset-investments-from-1-april-2021/new-temporary-tax-reliefs-on-qualifying-capital-asset-investments-from-1-april-2021