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Super Deduction First Year Allowance - 130%

Qualifying Expenditure - Capital Allowances

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I am joining a Group of Limited Companies that is in the business of renting out a vast range of Plant and Machinery to UK based customers.

Is it elligible to claim the super 130% deduction if it leases the assets to its customers? What about if the business itself leases the assets from a supplier and then leases that onto customers, of course with the lessors permission?

 

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By Piltdown Man
30th Nov 2021 11:10

No and No, unless the assets leased are background plant within buildings, but that does not seem likely from the question.

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By David Ex
30th Nov 2021 11:15

Are you joining as the group’s tax specialist? If not, I’d be tempted to leave that to the internal or external tax technical advisor(s) that a group leasing a “vast” range of assets presumably has.

If you want to know more for general interest, have a read of this:

https://www.gov.uk/hmrc-internal-manuals/capital-allowances-manual/ca23161

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By Tax is always taxing
30th Nov 2021 13:02

No, unless you provide an operator with the machines, then maybe, but maybe not.

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