We are making rental firms aware of the ‘super-deduction’ 130% capital allowance offered by the UK Government HMRC.
Super-deduction is available for all businesses that invest in main rate plant and machinery. The company will then qualify for a 130% capital allowance deduction. It is believed to be the most attractive tax incentive for business investment ever offered by a UK Government.
Super-deduction will cease in April 2023.
Consequently, if a rental firm purchases one of our X-WASH plant cleaning bays before April next year, it will be able to set that investment against its corporation tax bill. However, all firms should check their eligibility directly with HMRC or in consultation their accountants.
The X-WASH wash bay is an ecological, flexible cleaning system for most types of plant and machinery. It prevents soil pollution and contamination of drains, from oil, grease, and similar chemical contaminants commonly associated with the regular cleaning of off-hired equipment. We offer a complete delivery, installation, and training programme for all purchasers of the X-WASH system. We have made available a comprehensive training video, which details all the features and benefits of the X-WASH
The environmental qualities of their X-WASH wash bay have been formally recognised by the internationally respected campaigners, The Green Organisation.
We expect that the X-WASH will be of particular of interest to those members of the Hire Association Europe (HAE) seeking to gain SafeHire accreditation. With its anti-pollution features and recycling capabilities, the use of an X-WASH wash bay will demonstrate a rental firm’s commitment to eliminating water pollution, which is one of the elements needed to achieve HAE SafeHire Certification.
Paul Hay said, “If a company invests and installs one of our X-WASH wash bays, they are likely to be able to claim 130% capital allowance against their tax bill. Several of our clients have already successfully completed their applications.”