Beat the Super tax deadline 31/3/2023 on Furniture and more…
If you are considering buying furniture you can do this and get Super tax until the end of March 2023.
Businesses investing in plant or machinery, including furniture, audio visual, and air conditioning, can benefit from 130% first-year capital allowances, meaning that 130% of the full cost of these qualifying assets can be offset against taxable income.
This scheme expires on 31st March 2023, so there has never been a better time to buy office furniture.
If you don’t want to use cash for your furniture purchase, East On Projects can help with this. Not only can East On manage your furniture planning and supply, but our partners can also enable you to spread the cost (3 – 5 years) while still allowing you to claim the full 130% Supertax.
If you are considering a fit-out project, some elements of this may qualify for Supertax too. And for the elements that don’t, our partner offers a tax-efficient/off-balance sheet option. Don’t forget for many organisations corporation tax is set to increase to 25% after March 23.
East On can assist you with design, build, and project management for your fit-out and/or furniture. Our funding partners can help you fund some or all of your project (subject to status) avoiding the use of valuable cash.
For a free on-site assessment of your furniture and/or fit-out project requirements, just get in touch.
