The New Super Deduction Explained

What is the super deduction?

Businesses can claim 130% first year relief on qualifying plant and machinery bought between 1st April 2021 and 31st March 2023. Under the super deduction, for every pound a company invests, their taxes are cut by up to 25p. The government announced this as part of the 2021 Budget in March, in the hope that the scheme will encourage business investment and stimulate economic growth. The super deduction scheme is only available to Limited Companies. Unfortunately sole traders cannot benefit. To give an example of the available savings, if you spend £100,000, the corporation tax deduction will be £130,000. You will save 19% on £130,000, which is £24,700.

Benefit from Tax Relief on Contractor Expenses

If you are a contractor or freelancer then you have probably read various doom and gloom reports on how the Government is clamping down on the various tax reliefs you can currently legitimately receive.
There have also been consistent rumours for years that IR35 will be replaced and it will be almost impossible for contractors to work through their own limited company and benefits from the tax incentives this currently offers.
From next April there is also the new Dividend tax.

Guide to Tax Relief for Festive Gifts and Christmas Parties

‘Tis the season of giving! We’ve put together this handy guide to explain what tax relief you can receive when you gift employees, clients and charities this festive season.

You may want to thank your employees for their hard work, throw a virtual staff party or give a gift to a client.

It’s important to understand what can and cannot be claimed through the expenses of your Limited company, so as not to overspend and potentially avoid all tax relief.

Tax Relief - Professional Subscriptions
Editor | 18 November 2015
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HMRC have issued an up to date list of professional organisations which if you pay an annual membership for you can claim tax relief on.
The subscription has to be required as part of your job or are helpful for your work.
The complete list is available at: