Review Your It Needs For Possible Tax Relief!
In the 3 March 2021 Budget, the Government announced new temporary tax reliefs on qualifying capital asset investments from 1 April 2021. This may be a handy temporary tax relief for those considering investing in IT. We have clients who received this benefit on the purchase of IT servers, printers, laptops, communication equipment and WiFi. Contact your accountant and look at the Government website to see if you qualify. Then contact Busted Networks if you’d like to upgrade any of your IT.
This measure will temporarily introduce increased reliefs for expenditure on plant/machinery. For qualifying expenditures incurred from 1 April 2021 up to and including 31 March 2023, companies can claim in the period of investment:
- A super-deduction providing allowances of 130% on most new plant/machinery investments that ordinarily qualify for 18% main rate writing down allowances
- A first year allowance of 50% on most new plant/machinery investments that ordinarily qualify for 6% special rate writing down allowances