Now is the time to invest in new machinery for your bakery!
Businesses can claim a super-deduction, providing allowances of 130% on most new plant and machinery investments.
As a result of measures announced in the 2021 Spring Budget, businesses will now benefit from the super-deduction which offers 130% first-year relief on qualifying main rate plan and machinery investments from the 1st April.
From 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will be able to claim:
a 130% super-deduction capital allowance on qualifying plant and machinery investments
a 50% first-year allowance for qualifying special rate assets
The super-deduction will allow companies to cut their tax bill by up to 25p for every £1 they invest, ensuring the UK capital allowances regime is amongst the world’s most competitive.
This relief makes improving your bakery machinery more affordable. Our knowledgeable team would be happy to talk with you about the super-deduction in more detail and discuss which equipment might best suit your plans for your business.
To find out more about the super-deduction scheme see the government website to download their factsheet.
To discuss purchasing new Bakery Solutions products using this scheme, contact contact Gary or Mike on
info@bakerysolutions.com or call on 0800 083 5639.