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New Super‐Deduction

From 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will be able to claim a 130% super‐deduction capital allowance and a 50% first‐year allowance for qualifying special rate assets. This will allow companies to reduce their tax bill by up to 25p for every £1 they invest. Qualifying plant and machinery include lorries and vans, ladders, drills and cranes, as well as computer equipment and servers, and office chairs and desks.

With much of the UK’s productivity gap attributable to low levels of business investment, the Government is hoping that the super‐deduction will give companies a strong incentive to bring planned investments forward and make additional investments. Further information can be found in the Government’s factsheet.

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