6 months left to take advantage of tax saving with the Government Super Deduction

6 months left to take advantage of tax savings with the Government Super Deduction The Government’s Tax Relief “Super deduction” was introduced in April 2021. It will end in a little over 6 months' time on the 31st of March 2023. Saving on your Corporation Tax bill This special scheme was introduced during the peak of the COVID-19 pandemic. It was designed to encourage growth and expansion in the manufacturing industry, by offering large tax incentives against Corporation Tax. We are approaching the end of this tax relief window, with around 6 months of time left before this closes. For delivery of large machineries, such as our Press Brakes, Guillotines, Lasers etc, the timeline is closing up very quickly. The idea behind the incentive is that much like grants if a business is investing, then long-term it should be growing. This is part of the package of measures brought in during the pandemic to support businesses. There is still time to make use of this additional tax relief on new machinery purchases.

For more information on 6 months left to take advantage of tax saving with the Government Super Deduction talk to Selmach Machinery Ltd