Super Deductions for Companies

BCS News, IT News

Super Deductions for Companies

 

When Rishi Sunak put forward the 2021 budget, he announced a Super-Deduction in expenditure incurred from 1st April 2021 to the end of March 2023. Did you know that IT equipment is one of the tangible capital assets that qualify for this super-deduction? So as an example, if you spend £10,000 on upgrading your I.T., you can deduct £13,000 (130% of the initial investment) in computing your taxable profits. This means a £570 (19%) deduction in your corporation tax bill!

If you’d like to find out more, this document on the .gov website goes into more detail: Super Deduction Factsheet.

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