Overview At the Budget on 3 March 2021 additional capital allowances were announced by way of a new super-deduction (130%) and 50% first year allowances to…
Landlords were originally left disappointed when the new 130% super-deductions and 50% first year allowances were announced in the March 2021 Budget. This was due to the proposed legislation containing exclusions for plant and machinery for leasing. The government resisted initial calls for change.
However, following lobbying, changes have now been made to the draft legislation so that background plant and machinery in a building should now qualify for these new allowances. This is great news for landlords looking to invest, particularly as there is no upper limit to these new enhanced reliefs.
For more information please contact our property experts who will be happy to advise.