- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Super deduction - Time for new equipment?
Collapse
X
-
Bearing in mind you are asking a bunch of contractors, you thought about passing this one past your accountant? -
Considering computer equipment and servers are included as plant and machinery, that's rather interesting. I didn't think that category of asset would be covered.
You might not get away with the phone purchase.Leave a comment:
-
Super deduction - Time for new equipment?
Hello,
Sunak just announced the super deduction plan:
https://twitter.com/RishiSunak/statu...27900883320834
https://www.gov.uk/guidance/super-deduction
So if I buy a new laptop for £2000 and a new phone for £1000 as capital allowance I should be able to deduct 130% corporation tax.
Meaning £3900 deducted from corporation tax.
Are you planning to take advantage of this scheme? And what you planning to buy if so?
Note for the deduction:
130% is applied against the taxable CT calculation. So the CT reduction would be £3,900 x 19% reducing CT bill by £741 in this case.Last edited by cwah; 1 April 2021, 12:27.
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: