The new Super-deduction Tax Break effective from 1st April 2021.

The new super-deduction tax break is for businesses like yours…and could save you thousands. 

Further to the recent budget announcement any business that pays corporation tax is eligible for the tax break and it is worth checking with your accountant to see how you can benefit too. If you’re purchasing capital equipment including our workbenches, there’s a good possibility you’re invited to the tax-break party.

Here’s how it works at a basic level. Let’s say you invest £10,000 in capital equipment. You’re now allowed a capital allowance of 130%, which means you could deduct £13,000 from your taxable profits. And with corporation tax at 19%, that’s a saving of £2,470!

Now is the time to act though. Rishi Sunak’s tax break is designed to stimulate investment in the short-term, so it’s only available between March 2021 and April 2023, after which the corporation tax rises to 25% and the tax break ends. If you’ve been debating a capital expenditure project to accommodate future growth, it’s definitely worth chatting to your accountant to see how you can save money. Make sure you seek expert advice from your accountants on how this can work for you first, as there are exceptions such as second-hand items, cars and items purchased for leasing.

Whether you’re a large or small company, you can take advantage of this tax break by purchasing our workbenches, we can provide a complete re-fit of your workshop, factory or warehouse whilst you save money. The team here at Benchmaster are experts at what we do, from manufacturing to installation, we’ll make sure we’re meeting your every requirement.

Now is the perfect time to invest in one of our projects. You can take a look at examples of our workbench fit-outs on our case studies page. Hopefully, this will help you make your mind up about choosing Benchmaster for your workbench re-fit, our clients are always happy about the quality and the service they receive.

Please contact the team here at Benchmaster who will be happy to discuss any project to help find the right workbenches for your needs.

• Blog