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Modus Accountant - Reminder of the Super-deduction allowance deadline

Up to 31st March 2023, a Ltd company will qualify for a 130% capital allowance deduction on any investments it makes in main rate (main pool) plant and machinery.

Your ‘Super-deduction’ allowance includes all new plant and machinery that would ordinarily qualify for the 18% main pool rate of capital allowances.

Examples include

  • Computer equipment and servers
  • Tractors, lorries, vans
  • Ladders, drills, cranes
  • Office chairs and desks
  • Electric vehicle charge points
  • Refrigeration units

Important things to note

  • You need to have spent the money during the time period specified, i.e. between 1 April 2021 and 31 March 2023.
  • Excludes the following:
    • Cars
    • Shares & investments
    • Residential property
    • Plants & machinery on a lease

How our team at Modus Accountants can help

Clearly, we wouldn’t suggest purchasing something just to take advantage of this. However, if you are thinking about purchasing a qualifying asset, then you can time the purchase in line with this.

If you would like further detail on the super-deduction allowance, get in touch with the Modus Accountants team by calling 01993 225 030 or by emailing hello@modus-accountants.co.uk.

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