Full Expensing Tax Relief Initiative On Commercial Fire Alarms & Security Systems
This government scheme is called the “Full Expensing” Tax Relief Initiative. Investment is a key driver of productivity growth but business investment has been a long-standing weakness in the UK – UK business investment accounted for 10.0% of GDP compared to the OECD average of 12.5% in 2021. The government wants to create an incentive for businesses to bring planned investments forward, therefore the Full Expensing Tax Relief Initiative was introduced.
As a business owner, it’s likely you’ll want to understand all you can about this before you invest in a new fire alarm or security system.
There’s a lot of information out there about this scheme, but much of it is full of jargon and ‘accountant speak’ and if we’re honest we were totally bamboozled trying to read it. So, now that we’ve got our heads around it, we’re going to explain to you – in a totally jargon-free way – how the “Full Expensing” Tax Relief Initiative can save you money on your fire alarm or security system.