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Karina Gallagher of Hornby Commercial Finance on Super Deduction Tax


BUSINESSES thinking about investing in new machinery or plant should consider bringing forward their longer term purchasing plans to take advantage of the Government s new Super Deduction Tax Scheme, a finance expert has said.
The programme will allow firms to make purchases of up to £1 million on qualifying equipment until March 2023 which can be offset against their tax liability.
It means that for every one pound a company invests, their taxes are cut by 25p.
Karina Gallagher, managing director of Ulverston-based Hornby Commercial Finance, said the scheme provided a significant financial benefit for firms looking to purchase new equipment or retool their business. ....

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