Why UK chancellor Sunak put a "super-deduction" in his budget — Quartz
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, wi...
Source: qz.com