Capital investment encouraged

In the March 2021 Budget the Chancellor announced a super-deduction scheme that provides a 130% deduction for the cost of new plant or equipment if it is purchased by a company before 1.4.23. Expenditure on other new assets such as fixtures and integral features in buildings can also qualify for a 50% first year deduction if purchased before 1.4.23.
There are two major restrictions to these attractive investment reliefs:

• the assets must be purchased new (not second hand); and
• the super-deductions can only be claimed by companies.