Invest in New Machines Now and Save Tax

Invest in New Machines Now and Save Tax

If yours is a profitable limited company, there is a good chance you will end up paying corporation tax. Something to look into, and maybe avoid a big tax bill is Rishi Sunak’s Super Tax Deduction scheme. Basically, if you buy equipment, you’ll be eligible to claim corporation tax relief that will come to about £2,470 for every £10,000 you spend - not to be sniffed at!

If you could get your hands on new flooring machines and surface preparation equipment, would that help your business jump up to the next level? If the answer’s yes, right now might be the right time to take that step and invest in substantial levels of a new floor grinder, floor scraper or shot blaster.

If you don’t have money sloshing around your current account, are you going to miss out? Under the Government's scheme you can’t lease or hire purchase the machine, which brings us back to Recovery Loans. Speak to your accountant who will advise you of your likely tax liability and the scheme’s suitability to reduce it. Next call is your bank who should help with the application process. If the bank is less than forthcoming, look out for Recovery Loans promoted by finance brokers, making sure that they’re regulated by the FCA Financial Conduct Authority.

Recovery Loans generally are supported by the Government, they have very competitive interest rates and don’t normally require a director's personal guarantee or security.

Now we’re not advocating spending for the sole purpose of tax avoidance, but a reduced tax bill is a big pull and the reductions for the next couple of years are sweeter still and if that elevates your company to a different level altogether – what’s not to like?

Multi-Hire are authorised distributors of several leading flooring equipment manufacturers, selling at below RRP with added benefits such as hire before you buy on many lines and a free parts only 12 months service on every new purchase. On many items you can hire before you buy and get a week's hire charge deducted from the purchase price.

Please hover your mouse over Machine Sales and a really helpful dropdown appears with categories of machines such as Grinders, Strippers – Scrapers, Mixers, Dust Control etc. Where prices are quoted, that’s what you pay, after all negotiated discounts have been applied.

If you want more information on any machine, please contact us give us a ring on 03455 613633.

 

Happy shopping. We hope that this will be the springboard that you need to get back to where your company should be, without saddling it with expensive debt.