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In this blog post, we share the lowdown on the government’s super-deduction scheme and how it could benefit your business:
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.
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.
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.
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.
HMRC has set out detailed guidelines about what’s classed as qualifying expenditure, but to summarise:
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.
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.
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Whether you’re curious to see how our Business Management Software works or just want to chat to someone about your business requirements – our team are here to start the journey together.
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