Super Deduction on new Fire Security Equipment
Did you know that if you invest in new fire and security equipment you could benefit from the super-deduction introduced by the Chancellor in this year’s Budget?
In the Budget 2021 the Chancellor announced the introduction of a super-deduction for companies investing in qualifying new plant and machinery, which includes essential fire and security systems and equipment.
Between 1st April 2021 and 31st March 2023, companies investing in qualifying new plant and machinery will benefit from new first year capital allowances. Under this measure a company will be allowed to claim:
- a super-deduction providing allowances of 130% on most new plant and machinery investments that ordinarily qualify for 18% main rate writing down allowances
- a first year allowance of 50% on most new plant and machinery investments that ordinarily qualify for 6% special rate writing down allowances
This relief is not available for unincorporated businesses.
Find out more at: https://www.gov.uk/guidance/super-deduction
