Sales and General Enquiries: 0333 311 0109

Support: 0333 311 0809

 Avada Accountant Demo
General: 0333 311 0109 | Support: 0333 311 0809
 Avada Accountant Demo

Capital Allowances super deduction deadline is fast approaching

The capital allowances super deduction was introduced in March 2021 to help the economic recovery from the COVID-19 pandemic. It gives businesses investing in new equipment a much higher tax deduction in that tax year than would otherwise apply. If you buy certain new equipment (including computer equipment) you can claim 130% capital allowance.

So, if you spend £1,000 on computer equipment, it will reduce your corporation tax bill as if you had spent £1,300.

However, the 31 March 2023 deadline is fast approaching, so if you want to make the most of it, the time to act is now!

Supply chain issues

Sourcing hardware is currently quite challenging (as with many supply chains) and it is still difficult to get hold of certain specifications or equipment.

If you are thinking about what hardware your business is going to need over the next few years, it could be beneficial to place advance orders on new technology now and take advantage of the Super Deduction rules.

A full summary from HMRC is available here and your accountant will be able to advise you too.

How we can help

We are working with several of our clients, auditing their current technology and looking at how we can help future-proof their business, taking advantage of the extra allowance.

If you’d like a conversation about how ILUX could support you, please get in touch.

Let’s talk

Ali Gamble
Marketing Manager
Tel: 01480 501500
Mobile: 07872 565882

For Alison’s other articles, blogs and insights, click here.

ILUX kickstarts 2024 with new jobs, new people and new clients

February 16, 2024|

ILUX, the IT support and consultancy business, has kickstarted the year with key promotions and new staff, and added three local household names to its client portfolio. The company began working with Premier Travel in January as a strategic IT consultant to the business. The travel agency, [Read more]

Anti-Virus is no longer enough

January 4, 2024|

Over the past 12 months, we have seen a significant increase in the number of cyber attacks on SMEs. Gone are the days when hackers only targeted large businesses. They are increasingly turning their attention to small and medium-sized organisations where there is likely to be less [Read more]

Ready to talk?

Get in touch now to speak to our expert advisors on how we can help transform your business.

Contact Us
Go to Top