Cut your Tax bill by 25p for every £1 spent on plant and machinery
Plus extra support for green and renewable projects
Yesterday’s Budget announcement introduced a number of stepping-stones to assist recovery, restore fiscal strength and to build long term, sustainable economic capacity. Key measures to help SMEs build their businesses include:
The Super Deduction:
- A tax break for companies investing in new equipment
- Tax bills cut by 25p for every £1 invested
- Taxable profits reduced by 130% of the cost
- In place for 2 years, starting April 2021
This is a huge incentive for any businesses looking to invest in new equipment over the next two years.
The UK Infrastructure Bank:
- Investment in sectors such as renewable energy, carbon capture, storage and transportation
- Low rate loans for companies looking to play a part in helping the UK reach its net-Zero carbon targets
- Aim to attract £40bn of private investment into green projects
Ignition can help you take advantage of these initiatives to move your business forward. We are on hand to assist with the funding of these investments to help your business grow. Contact us to find out more on 01872 272900.