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1 July 2021 | by Tim Frankland
For expenditure incurred from April 1st 2021 until the end of March 2023, companies can claim 130% capital allowances on qualifying plant and machinery investments.
Most tangible capital assets used in the course of business are considered plant and machinery for the purpose of claiming capital allowances.
This change will make the UK’s capital allowance regime more internationally competitive, lifting the net present value of our plant and machinery allowances from 30th in the OECD to 1st.
In order to qualify for the super-deduction, you must be a corporate entity paying corporation tax on taxable profits.
Examples of the Super-Deduction
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