New temporary tax reliefs on qualifying capital asset investments

SUPER-DEDUCTION PROVIDING ALLOWANCES OF 130% ON NEW PLANT AND MACHINERY

Chancellor Rishi Sunak at the Budget on 3 March 2021 announced additional capital allowances by way of a new super-deduction (130%) to encourage capital spend by companies over the next two years.

Who can claim the super-deduction and first year allowance (FYA)?

• These new allowances only apply to companies who pay corporation tax.

What level of super-deduction allowance can be claimed?

• Companies can claim a super-deduction by writing off 130% of expenditure on new/unused equipment from 1 April 2021 for two years.

What type of asset will qualify for the super-deduction of 130%?

• The kinds of assets that may qualify but are not limited to are: Solar Panels, computer equipment, refrigeration units, compressors, and foundry equipment.

What Hadron products will qualify for the super-deduction of 130%?

Turbo Blowers
Roots Type Blowers/Packages
Side Channel Blowers
Truck Blowers
Rotary Valves

THERE HAS NEVER BEEN A BETTER TIME TO REPLACE AND UPGRADE YOUR BLOWERS!