No better time to invest in a new compressed air solutions

Super deductions mean 130% Capital Plant Incentive Scheme means there's never been a better time to invest in a new compressed air solution.

 

New compressed air solutions with up to 130% tax relief

The super deductions allowance that was announced by Chancellor Sunak on Wednesday 3rd of March 2021, paves the way for huge amounts of new investment. It means businesses in the UK to reduce their corporation tax bill by up to 130% of any investment that they make in the next two years, including investment in new machinery such as air compressors.

"It means if you invest £20,000 in a new air compressor, you will be able to deduct £26,000 from your tax bill. This means, your accounts team can deduct 130% of your initial investment (£20,000) when calculating your taxable businesses profits. The super-deduction is an enhanced first-year allowance providing an allowance exceeding the cost of the asset. It makes investing now very attractive, helping save tax liabilities and aid cashflow."

Mike Smith Customer Support Cambs Compressors

 

130% Capital Plant Incentive Scheme

This measure will temporarily introduce increased reliefs for expenditure on plant and machinery. For qualifying expenditures incurred from 1 April 2021 up to and including 31 March 2023, companies can claim in the period of investment:

  • a super-deduction providing allowances of 130% on most new plant and machinery investments that ordinarily qualify for 18% main rate writing down allowances
  • a first year allowance of 50% on most new plant and machinery investments that ordinarily qualify for 6% special rate writing down allowances

There really has never been a better time to look to improve your on-site facilities by investing in new compressed air solutions.

 

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