Limited companies with commercial property lettings can now take advantage of the super-deduction which, for just two years from 1 April 2021, means any investments a company makes in qualifying ‘main rate plant and machinery’ will qualify for a 130% capital allowance deduction.
When the scheme was first announced back in March, property letting companies were excluded from the scheme, meaning only occupiers of premises could benefit but amendments have since been made meaning landlords are now eligible to apply.
The allowance is for fixtures and other assets which serve a function in the building, not the building itself, and has to be new and unused.
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