A tax liability super deduction means now is a great time to purchase equipment

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A tax liability super deduction means now is a great time to purchase equipment
19th April 2021

Effective 1st April 2021 a tax relief scheme to encourage investment was launched by the Government.  In a nutshell this means that NOW is a great time to purchase plant and machinery so give us a ring on 01933 222000 (Opt 1) to discuss how you might take advantage of this amazing offer.  Or email us at enquiries@maziak.co.uk

Here's a brief summary of how it will work:
Qualifying timeframe: 1st April 2021 to 31st March 2023 (NA for equipment ordered before 1st April)

The equipment needs to be new and owned by you.

Qualifying equipment related to our industry:  

  • Air compressors
  • Dryers & receivers
  • Refrigeration units
  • Gas generators
  • Vacuum pumps
  • Low pressure equipment

Here's an example:
A company that is eligible to claim the super deduction buys a compressor from Maziak for £5,000.
The company can deduct £6,500 (130% of the investment) when computing its taxable profits.
Deducting £6,500 from taxable profits will save up to 19% or £1,235 on their corporation tax bill.
I.e. a saving of 25p for every £1 invested

Scale that up to £1million on qualifying investments and the corporation tax saving is up to £247,000!

Call us to make the most of what is effectively up to a 25% discount!
Call 01933 222000 (Opt 1) or email us at enquiries@maziak.co.uk


++For more detailed information on super-deduction:

From the Government: https://www.gov.uk/guidance/super-deduction
From BCAS: https://www.bcas.org.uk/time-to-invest-in-captial-equipment-super-deduction-tax-break.aspx

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