Free money for computer equipment?
Okay we have to admit it’s not quite free money but there are some very attractive tax advantages to bring forward any expenditure on new computer equipment.
Rishi Sunak, Chancellor of the Exchequer, announced in this spring budget a new time-limited 130% tax super-deduction to incentivise businesses to invest in new equipment to support the build back better programme. As with all schemes there are qualifying dates that apply, this scheme is in operation for purchases between 1st April 2021 and 31st March 2023
In summary the scheme allows for businesses to reduce their tax bill by 25p for every pound spent on qualifying equipment, which includes computer equipment and servers which would cover everything from laptops to printers, firewalls to monitors. Post COVID does you business need to move to the cloud or invest of proper home worker equipment now that your team will continue with a hybrid of office and work from home.
There’s never been a better time to invest in new/better technology or improve your security.
There are a number of other categories of spending that are also covered, full details of the scheme are here Super_deduction_factsheet.pdf (publishing.service.gov.uk)
Need to know more, talk to us about what we can do you help improve technology within your business or for the accounting side of things talk to your accountant.