Companies can claim 130% capital allowances on Office Furniture

The Budget 2021 – Super-Deduction &amp; What it Means for Office FurnitureHave you heard the fantastic news for businesses looking to purchase office furniture in the next 2 years?The latest budget has included a Super-deduction that means that for every £1 a company invests in Office furniture, their taxes are cut by up to 25p!For expenditure incurred from 1 April 2021 until the end of March 2023, companies can claim 130% capital allowances on qualifying plant and machinery investments that include Office chairs and desksWhat classes as plant and machinery?Most tangible capital assets used in the course of a business are considered plant and machinery for the purposes of claiming capital allowances. The kinds of assets which may qualify for either the super-deduction or the 50% FYA include, but are not limited to: Solar panels Computer equipment and servers Tractors, lorries, vans Ladders, drills, cranes Office chairs and desks Electric vehicle charge points Refrigeration units Compressors Foundry equipmentThat’s right! Who knew office furniture is classed as plant &amp; machinery? That is great news for anyone looking to re-vamp or create a new officeIf you have a requirement for Desks &amp; Chairs click here for a free quotationExample of the super-deduction in practice A company incurring £1m of qualifying expenditure decides to claim the super-deduction Spending £1m on qualifying investments will mean the company can deduct £1.3m (130% of the initial investment) in computing its taxable profits Deducting £1.3m from taxable profits will save the company up to 19% of that – or £247,000 – on its corporation tax bill.Why is the government introducing a super-deduction? Making capital allowances more generous works to stimulate business investment. As a result, these measures can promote economic growth and counter business cycles. The super-deduction will give companies a strong incentive to make additional investments and to bring planned investments forward.So what are you waiting for? Receive a free quotation of office furniture to take advantage of the super-deductions today!Whether you’re opening a new office or expanding your existing workspaceWe can help with:High Quality Desks that last for yearsErgonomic Chairs for productive WorkersFull Project ManagementSimple No-Obligation QuotesFlexible Payment TermsIndustry Expert ServiceFast DeliveryEasy To Work WithCLICK HERE TO TELL US ABOUT YOUR PROJECT / REQUIREMENTS

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Pay With Klarna

08000 541 104