A quick summary: When you buy certain new equipment (including computers) you can claim 130% capital allowance.
What that means: If you spend £1,000 on computer equipment, it’ll reduce your corporation tax bill as if you had spent £1,300.
How long does it last? It started on 1st April 2021 and lasts two years.
Have you heard of super-deduction?
What that means is that you can write off more than the cost of the purchase on your corporation tax bill.
For example, if you spend £1,000 on computer equipment, it’ll reduce your corporation tax bill as if you had spent £1,300.
It was designed to encourage you to invest in your business. And it’s a generous relief!
Your accountant should be fully aware of it (and if you fancy a little nap, you can read the HMRC summary here).
If you want new computers in the next couple of years, we recommend you act quickly
Supplies of hardware are still disrupted due to the pandemic. It’s still difficult to get hold of certain specifications or pieces of equipment.
You really should think ahead about what new hardware your business could need in the next few years.
Unlike most IT support companies, we know all about super-deduction. We’ve been gearing up to this for some time.
Email: andrew@wightcomputers.co.uk to tell us what you need.
Or book a 15 minute telephone or video call at a time that suits you. Here’s our live calendar: