SUPER DEDUCTION TAX RELIEF ON COMMERCIAL FIRE ALARMS OR SECURITY SYSTEMS
This government scheme is called the Super Deduction Tax Rate of Relief.
The scheme has been introduced as a result of the drop in business investment following the COVID pandemic. The government wants to create an incentive for businesses to bring planned investments forward.
This is because they do not want companies to defer purchases in order to attract corporation tax relief at 25% as opposed to 19%, which is what it will be from April 2023. It’s all about getting business moving again.
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 Super Deduction Rate of Relief can save you money on your fire alarm or security system.