Super Deduction Allowance
Expenditure on new items of plant and machinery incurred until 31 March 2023 is subject to the Covid related super deduction allowance. This allowance provides tax relief at the rate of 130% of the amount spent on new plant and machinery.
The allowance is only available to limited companies. The additional tax relief represents an additional £57 of tax saved for each £1,000 of expenditure.