GC Business Growth Hub is hosting a live webinar to explain how SMEs can make use of the recently announced Super Deduction tax support.
The ‘super deduction’ allows companies to cut their tax bill by up to 25p for every £1 they invest. In a webinar titled, ‘Super Deduction – How it impacts your business’ on 22nd April at 10am, experts from the accountancy sector will aim to help business owners cut through the jargon and benefit from this new capital allowance offer.
From April 2021 to March 2023, businesses will be able to claim both a 130% super deduction capital allowance on qualifying plant and machinery investments, as well as a 50% first-year allowance for qualifying special rate assets.
For SMEs, this means businesses paying tax at the current rate of 19% can cut their tax bill with such investments by nearly 25p per £1 invested. Many business owners are finding this new tax relief difficult to understand, despite knowing it may well affect both their investments and economic futures.
Specialists and industry experts will assist businesses in understanding the differences in funding methods for capital items included under this new super-deduction tax. Guest speakers include:
- Caroline Monk, Executive Partner at Beever and Struthers
- Julie Hernon, Senior Tax Manager at Beever and Struthers
- Richard Jones, Business Tax Manager at ICAEW
- Peter Gaunt, Relationship Manager at GC Business Growth Hub
The webinar takes place at 10am on 22 April; it is free to attend and places can be booked online via the Growth Hub website.