As part of the Spring budget, the chancellor, Rishi Sunak, announced a new capital allowance ‘super-deduction’. It was intended to spur investment, boost productivity and aid post pandemic economic recovery by providing 25p off company tax bills for every pound of qualifying spending on plant and machinery.
The super-deduction tax break means that you can claim 130% of what you spend on equipment for your business, e.g., Computer equipment, against taxable profits. This would usually qualify for Annual Investment Allowance which provides 100% tax relief on qualifying assets.
Similarly, for expenditure incurred between 1 April 2021 and 31 March 2023, companies can claim a 50% first year allowance for Special rate (including long life) assets. This would usually qualify for 6% writing down allowances.
It is hoped that the tax break will give companies a strong incentive to make additional investments, and to bring planned investments forward.
Here at David Allen IT Solutions, we use ConnectWise Sell, a procurement system that allows us to pull and compare pricing from multiple hardware and software distribution partners. This enables us to give you quick access to the most competitive product quotes around, saving you the time and the manual process of contacting different vendors.
We can provide a no obligation online quote within 12 hours of the initial request and acknowledge digital quote acceptance with e-signature.
Our team of consultants can help identify the right hardware to purchase for your business requirements, looking at your current IT infrastructure and give advice on your current hardware that may need replaced or upgraded in the near future.
If you require more information specifically on how the ‘super deduction tax break’ might benefit your business please don’t hesitate to get in touch with us.
24 June 2022
14 June 2022
13 June 2022
24 May 2022
19 May 2022
27 April 2022
18 February 2022
4 February 2022
3 February 2022
10 January 2022
4 January 2022
17 November 2021
4 November 2021
2 November 2021
22 October 2021
16 September 2021
16 September 2021
6 August 2021
4 August 2021
2 August 2021
28 April 2021
25 February 2021
19 February 2021
20 January 2021
15 January 2021
17 December 2020
7 December 2020
18 November 2020
11 November 2020
3 November 2020
23 October 2020
19 October 2020
8 October 2020
30 September 2020
8 September 2020
5 August 2020
21 July 2020
13 May 2019
8 April 2019
25 March 2019
24 September 2018
16 August 2018
We want to keep you up to date with relevant news, information, advice and changes which might impact you or your business. To ensure you get the latest updates delivered directly to your inbox, sign up to our e-bulletins below.
Available to download on iOS and Android by visiting the links below.
Unique access code: DavidAllen