A tax liability super deduction means now is a great time to purchase equipment
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
For more information, please call 01933 222000 or email us at enquiries@maziak.co.uk
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