Taking Advantage of the Super Deduction and Other Capital Allowances (Swindon)

Finance Act 2021 introduced a super deduction for investment in new plant and machinery. This is intended to enable companies to re-equip as the economy recovers from the pandemic. There is a less generous tax deduction where a company invests in assets that would normally be dealt with in the special rate pool. Both of these tax breaks are scheduled to end on 31 March 2023 and companies need to make sure that expenditure is incurred before that date.

The course will also update delegates on other recent changes to capital allowances and provide a refresher of other capital allowances.

• Qualifying conditions for the 130% super-deduction and record keeping
• Claw back charge on disposal of assets on which super-deduction claimed
• 50% FYA for special rate pool equipment
• Determining the date expenditure is incurred
• Structures and building allowance now 3%
• More generous capital allowances for businesses in Freeport areas
• A refresher of other capital allowances

Martyn qualified as a Chartered Accountant in 1982 and has specialised in taxation ever since. He became an Associate member of the Chartered Institute of Taxation in 1983 whilst working for a large international firm. His career has combined lecturing with tax consultancy, working for The Financial Training Company Ltd, Horwath Clark Whitehall, and more recently MHA MacIntrye Hudson. He is now a Consultant with MacIntrye Hudson Advisory Services LLP. Martyn’s main area of interest is tax planning for the family business, in particular tax efficient remuneration, exit planning and restructuring. He lecturers on this and other taxation issues as well as running his own consultancy practice.