130% Capital Allowances on Plant & Machinery Investments

May 5, 2021 | News

130% Capital Allowance on Machinery Investments

From 1 April 2021 until 31 March 2023, businesses in the UK can benefit from temporarily increased tax relief on qualifying plant and machinery investments.

The 130% super-deduction and 50% first-year allowance are generous brand-new capital allowances for investments in plant and machinery assets. Both will allow investing companies to lower their corporation tax bills.

This really is welcome news for manufacturers who are looking to improve their competitiveness and achieve superior levels of product safety. The super-deduction gives companies a strong incentive to make additional investments, and to bring planned investments forward.

Chancellor Rishi Sunak said: “With the lowest corporation tax in the G7, we need to do even more to encourage businesses to invest – for decades we have lagged behind our international peers. We need to unlock cash reserves so today I can announce the super-deduction. For the next two years when companies invest, they can reduce their tax bill with super deduction by 130% of the cost.”

A Food Equipment Partner You Can Trust

Since 1982, SF have been integrating tried and tested food production line solutions that fit customers’ operational needs.  Our reliable, robust systems and our automation advancements have resulted in us developing food production line solutions for a broad range of customers in the following industries: red meat, poultry, fish, plant-based, dairy, ready meals, salad, bakery, pet food, confectionery and snacks.

If you are planning an investment in new production machinery, speak to the experts as SF Engineering, we are here to support you through every stage of your new project. From consultancy to planning, design to project management, manufacture to installation & commissioning.

Solving Complex Food Processing Industry Challenges

Our teams are very familiar with the demanding conditions that arise across the food processing industry and have gained a vast knowledge of solving complex industry challenges on a daily basis. We are renowned for being a market leader in the most advanced food production line solutions, supporting global food brands with:

  • Advancing automation
  • Improving yield
  • Reducing highly skilled labour
  • Offering greater efficiency and lowering running costs
  • Enhancing product & pack presentation
  • Focusing on ergonomics, hygiene & safety

Get in touch with our team: Ireland +353 71 9163334 Email: info@sfengineering.ie UK +44 1487 740131 Email: info@sfengineering.co.uk

Find out more visit about the Government incentive visit www.gov.uk