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The UK Treasury introduced a brand new tax break scheme in March 2021 to help companies just like yours claim 130% capital allowance on investments like office furniture and workplace fit out. Post-pandemic, support schemes like this one will help businesses bounce back better and stronger than ever.
In other words, every qualifying £1 invested from April 2020 to the end of March 2023 comes with a 25p tax saving.
For example, if you were to spend £100,000 on an office furniture or fit out project during the dates outlined above, you’d make a whopping £24,700 tax saving. We’ve done the math so you don’t have to: £100k – 19%* x 130% = £24,700. (*The current UK Corporation Tax rate).
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