You will be able to claim a deduction from your corporation tax bill if you invest in new productivity enhancing plant and machinery. The expenditure would need to be incurred between 1 April 2021 and 31 March 2023 and you can save 25p of tax on every £1 invested.
If you are planning investment in March you may wish to consider delaying until April to take advantage of this super deduction. If you’re unsure and would like advice about this, give us a call.
For more information on what can be included and for more details on exclusions please see our Budget Report and visit the government website.