Under the new scheme outlined by the chancellor, from 1st April 2021 – 31st March 2023 (i.e for the next 2 years) companies will be able to claim 130% capital allowances on investments in plant and machinery
Meaning that you are able to claim tax relief over and above the actual cost of the investment – you are in effect being paid by the government to invest in your business
The aim is to encourage companies to invest in their business to help spur growth in the economy which has bee hard hit by the Covid-19 pandemic.