In the March Budget, Chancellor Rishi Sunak announced the brand-new Super-Deduction capital expenditure relief. It enables companies paying Corporation Tax to claim 130% capital allowances on most new plant and machinery investments that ordinarily qualify for 18% main rate writing down allowances. In addition, a new 50% First-Year Allowance (FYA) was announced for special rate assets (including long life items). This applies to most new plant and machinery investments that ordinarily qualify for 6% special rate writing down allowances. Super-Deduction and FYA capital reliefs apply temporarily to expenditure incurred over the next 2 years - from 1 April 2021 until the end of March 2023. These reliefs are just for new, unused plant and machinery, not second-hand or leased assets.