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Super deduction - Time for new equipment?

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  • northernladuk
    replied
    Bearing in mind you are asking a bunch of contractors, you thought about passing this one past your accountant?

    Leave a comment:


  • ladymuck
    replied
    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:


  • cwah
    started a topic Super deduction - Time for new equipment?

    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.

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