Business as usual – we’re operating remotely once again. During this time, please may we ask you visit the office for scheduled record drop off only.

In order to encourage companies to invest in new capital equipment, earlier this year the chancellor announced a radical new “super deduction” of 130% where they invest in new plant. This would mean that when a company buys plant costing £10,000, they would qualify for a £13,000 deduction in arriving at business profits.

This new deduction, which will run for two years from 1 April 2021, will not be available for motor cars. Certain assets such as fixtures in buildings will only qualify for 50% relief in the first year instead of the not be available for motor cars. Certain assets such as fixtures in buildings will only qualify for 50% relief in the first year instead of the normal 6% writing down allowance.