The government has been offering an increased tax deduction of 130% on new asset purchases, but this is about to expire on the 31st March.
This allows businesses to deduct the full value of qualifying assets from profits before tax. The full tax relief is received in the year assets are purchased rather than over several years, therefore reducing your tax liability.
What the Super Tax Deduction could be used for?
- Plant & machinery
- Vans, lorries, tractor units, trailers, etc
- Print, CNC and all other types of manufacturing equipment
- Most other new assets
For more information on this allowance from HM Revenue & Customs, please refer to their fact sheet: www.gov.uk
Please contact us now before time runs out on 01634 386869
First Business Finance is here to help with all your business finance requirements.