There’s now less than a year to take advantage of Rishi Sunak’s “super-deduction” policy. Announced in March 2021, the policy allows companies to claim 130% capital allowances on plant machinery investment including component cleaning machines.
For those of you who are unfamiliar with the policy, businesses are able to deduct 130% of an initial investment when computing taxable profits between April 2021 and March 2023. This means that, for every pound a company invests under the super-deduction, their taxes are cut by up to 25p…