Tax Chat #4

Hugh Stedman
Managing Partner
August 5, 2022
2 Minutes

When writing tax chat #1 I didn’t expect to be writing about a U-turn just three chats later!

A week is a long time in politics they say, and with the current front runner for the new prime minister talking about rolling back the proposed increase in corporation tax there could well now be a good reason to take advantage of the current super-deduction.

There is suggestion of an emergency budget and although I don’t have a crystal ball, my reckoning is that the corporation tax increase will be stopped as well as the super-deduction, this could well be halted with immediate effect from the emergency budget – if there is one! 

This therefore means that if you are planning on some capital expenditure in the near future, now could well be a good time to do it.  Please do note that there are rules and guidelines surrounding what qualifies so if you are planning some expenditure, please do check that it falls within the guidelines. 

Clearly business owners will have to make their own decisions but this could be a useful tax saving opportunity.

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