If you are investing in compressors, dryers and gas generators, vacuum pumps, or low-pressure equipment then you need to know about the Government’s Super-deduction Capital Allowance.
From April 1st 2021 you can claim a 130 per cent first-year relief on main rate plant equipment investments. This will last until 31st March 2023. In real terms this allows businesses to cut their tax bill by up to 25p for every £1 invested. This creates a real opportunity for businesses looking to invest in their compressed air systems to show a significant, immediate return on their investment.
Companies will also be able to claim a 50 per cent first-year allowance on qualifying special rate assets, which would ordinarily only be eligible for six per cent.
This should be a welcome opportunity for businesses impacted by Covid 19. Especially those who have found problems with their Pneumatic and Compressed Air systems on reopening.
Get in touch with Harrier Pneumatics to learn more about how you could benefit from this generous allowance and upgrade your plant.Tags: Air Compressors, Vacuum Pump
This post was written by Harrier Pneumatics