Claim capital allowances
The super-deduction and 50% special rate first year allowance
There are 2 types of temporary first year allowances:
- the super-deduction
- 50% special rate first year allowance (also known as SR allowance)
You can claim them both against the cost of certain plant and machinery you buy for your business from 1 April 2021 up to and including 31 March 2023.
To claim either allowance, the plant and machinery must be new and unused.
Only companies can claim these allowances.
What you can get
The super-deduction lets you deduct up to 130% of the cost from your profits before tax.
50% special rate first year allowance lets you deduct 50% of the cost from your profits before tax.
Check if you can claim
Check if you can claim the super-deduction or 50% special rate first year allowance. You can also find out how to claim.