Taking Advantage of the Super Deduction and Other Capital Allowances (Swindon)
with Martyn Ingles
9:30 am - 12:30 pm
Friday 25th February 2022
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