There’s never been a better time to invest in your businesses IT Systems. From April 1st 2021 until the 31st of March 2023, companies investing in new IT qualify for a 130% capital allowance their investments.
The super-deduction offered to UK businesses from April the 1st 2021 is one of the most enticing tax incentives British companies have seen. In short, when you buy certain new equipment (which includes computers, servers and more). You can claim 130% capital allowance.
This means, that if you spend £1000 on a new business computer, this would reduce your business’s tax bill as if you had spent £1300. As stated on gov.uk: The super-deduction will allow companies to cut their tax bill by up to 25p for every £1 they invest. Read more about super deductions on the gov.uk website here.
The cut-off, as stated by British Governement for the super-deductions is the 31st of March 2023. This means British businesses have a limited amount of time to take advantage of this offer and invest in their IT Infrastructure.
If you are a business of any size, the answer is a most likely YES. With waiting times for technology showing no signs of reducing, now is the best time to place your order for the new infrastructure upgrade your business has been waiting for. Chat to an expert at ITC today.
As an IT Support provider, we’re well aware of the currenty issues in hardware availability. Due to the pandemic, hardware supplies are still to recover. It’s tough to get hold of certain computers and components.
You should think ahead about what new technology your company may require in the near future. That way we can assist you in planning and placing advance orders for new technology. If you see any potential need to buy new hardware within the next two years, take action now and take advantage of super-deduction.
We’ve created a little repository of commonly asked questions and their answers. If you have any hesitations or questions, please get in touch. Our team is knowledgeable and understand every faucet of this topic!
Gov.uk has stated that all plant and machinery assets are eligable for super deductions. Most tangible capital assets used in the course of a business are considered plant and machinery for the purposes of claiming capital allowances.
There is no exhaustive list of plant and machinery assets as the kinds of assets that qualify for super deductions are vast. Here are a list of some, but not limited to!
• Computer equipment and servers
• Tractors, lorries, vans
• Ladders, drills, cranes
• Office chairs and desks,
• Electric vehicle charge points
• Refrigeration units
• Foundry equipment
Unfortunately Super-Deduction Allowance doesn’t apply to sole traders or partnerships.
Just write down some details and our fantastic team members will be in touch.