You may not be aware of the Good News from the recent budget for those companies operating in our Industry and looking to invest in new plant and machinery. It is being heralded as the most attractive tax incentive for business investment ever offered by a British government.
From 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will benefit from a 130% first-year capital allowance. This upfront super-deduction will allow firms to cut their tax bill by up to 25p for every £1 they invest, ensuring the UK capital allowances regime is among the world’s most competitive.
This is great news for all in the construction, demolition, recycling and landscaping industries.
