Page 3 - இங்கிலாந்து பட்ஜெட் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

March 3, 2021 Calling it “the biggest business tax cut in modern history” in his budget speech, Rishi Sunak, the UK’s chancellor of the exchequer, announced a “super-deduction” for companies, inviting them to spend the mountains of cash they’re sitting on. The super-deduction will allow businesses to deduct up to 130% of new capital investment from their overall taxable income. An auto-parts manufacturer buying new plant machinery for £1 million, for example, will be able to deduct £1.3 million from taxable income. The super-deduction regime, which will run until March 2023, will let companies cut their tax bill by up to 25p for every £1 they invest. In total over the next two years, companies are expected to benefit to the tune of £25 billion ($35 billion).

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