How to get 25% off your tax bill with your next software investment with OrderWise

software investment

For every £1 you spend with OrderWise, you can receive 25p in tax savings. If you think it seems too good to be true, keep reading…

In this blog post, we share the lowdown on the government’s super-deduction scheme and how it could benefit your business:

What is a ‘super deduction’?

A ‘super deduction’ is a reward for businesses that invest in qualifying plant and machinery assets. The super-deduction £25bn tax break was announced in March’s Budget to provide 25p off tax bills for every pound.

Why has it come into force?

The government has made this possible to help stimulate growth and recovery following the economic disruption caused by the pandemic, making it more cost-efficient for businesses to future-proof their operations.

When will it start?

The tax break will come into force from 1st April 2021 and will be available on all qualifying expenditure made for the next two years. This means that it’s a good time to start exploring your technology requirements NOW so that you are ready to make your big technology investment very soon.

Does OrderWise quality for the scheme?

Yes! OrderWise is pleased to confirm that in most cases any spending on IT equipment, software and implementation services will be eligible, and that covers the vast majority of our products and services – including our Online Store and Trade Portal.

What OrderWise products and services qualify?

HMRC has set out detailed guidelines about what’s classed as qualifying expenditure, but to summarise:

  • All OrderWise software is covered under HMRC guidance
  • Physical IT equipment, including servers, computers, handheld devices and EPOS terminals are all recognised as plant and machinery by the HMRC and this also qualifies them for the super-deduction criteria
  • In addition, initial implementation costs for OrderWise, such as project implementation fees, custom integrations and developments, can also be included under the guidance
What OrderWise products and services don’t qualify?

Our annual support and upgrades packages are not covered as part of the super-deduction scheme. However, all new customers receive six months of free support and upgrades as standard with any new purchase.

What’s next?

Now, all you’ve got to do is gear up for your big software investment! Get prepared by reading our blog post, ‘The true cost of doing nothing in your business’ or browsing our range of solutions on our website. If you’re ready to discuss your requirements with our team, visit our contact us page.