Super-deduction for companies investing their reserves for 2 years

March 3, 2021|In KRW Tax news|By Keith Witchell

Rishi Sunak announced that from April 2021 until March 2023 a super-deduction will be offered to any companies that invest in new equipment, by allowing 130% of what they invest to qualify for tax relief (currently 100% but subject to limits). As a result, companies will obtain 24.7% Corporation Tax relief on the purchase of new plant and machinery for 2 years.

For further advice on this matter, please contact me.

Keith Witchell