A kaleidoscope of property tax opportunities – the ‘Super-deduction’ in full colour
Save the date – Thursday November 11 at 1:30 p.m. – when the Super-deduction will come into sharp focus at our next webinar.
Our Managing Director Alun Oliver FRICS and Property Tax Surveyor Todd Arnison will host the live event online about this allowance introduced in early 2021 – including subsequent changes which now benefit landlords and property investors.
They will give insights into how money can be saved via the super deduction and illuminate the opportunities to capitalise on the benefits it offers.
Here’s a brief profile of the super deduction and what to expect:
The Super-deduction was announced in the Budget in March 2021 and then included in the Finance Act 2021 with Royal Assent on 10 June 2021.
It gives corporation tax payers the chance to claim a 130 per cent capital allowance on expenditure qualifying as plant and machinery in what the tax legislation references as the ‘Main Pool’ or 50 per cent special rate allowance in respect to asset expenditure allocated to the ‘Special Rate pool’ for integral features, thermal insulation or long-life assets on new expenditure from April 1 2021 to the end of March 2023.
Initially, the allowances were not available to property investors due to a wide-ranging restriction for leasing activities, including property letting; but following sustained industry lobbying, the Government relented and has allowed qualifying expenditure in leased buildings to qualify for these accelerated allowances.