If you’re familiar with my weekly blogs, you’ll know that I talked about the new super-deduction a few weeks ago; explaining how it works, highlighting some not-so-super exclusions and covering off some areas of uncertainty. If you missed it, catch up here.

Qualifying plant and machinery in leased property

It was previously thought that only plant or machinery in communal areas of let property would be eligible for super-deduction, but the good news is that the Finance Bill has recently been amended to allow any eligible expenditure in leased buildings to qualify for the enhanced tax relief. If you are a commercial landlord or your business operates in a “prop co /op co” structure, this is a particularly helpful amendment, and we can help you to understand how you might benefit.

How we can help you

As things stand, there is still no change to the exclusion for assets used for leasing generally, so there are still a lot of businesses who are unable to benefit from the super-deduction. However, this is an area we are keeping a close eye on and if anything changes, we will update you.

This is still relatively new legislation and it’s possible that there will be further amendments to it. If any of your purchasing decisions depend on whether super-deduction will apply, please get in touch and we’ll help you arrive at the most super solution for your specific circumstances.

Kate Naylor
Kate Naylor
Tax Partner

Kate works with businesses and their owners on tax strategies and mitigation, looking at business and personal tax structures to achieve long term goals.

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