New Tax Relief On Products From Atlantic Pumps
Have you been considering purchasing a new quarry machinery for a while now? Thanks to a recent announcement concerning tax discounts, now may be the perfect time to invest.
The new tax relief measure comes as part of the Finance Bill 2021, offering a temporary 130% first-year allowance (also known as a super-deduction) for main rate assets and a 50% first-year allowance for those that fall within the special rate category. The lowered tax rates will be applicable from 1 April 2021 to 31 March 2023 and exclude expenditures incurred for contracts signed prior to 3 March 2021 (the day of the recent announcement).
Why Have The Changes Been Introduced?
The logic behind the policy is to stimulate investment in businesses and assist the economic recovery from the impacts of Covid. Capital allowances will allow businesses to write off tangible capital asset costs against their taxable income.
Policy Details
Certain expenditures will be excluded from the tax relief proposals, including used and second-hand assets and assets used only for a ring-fence trade (as these already have an allowance of 100%). Plants and machinery obtained under a Hire Purchase or a similar kind of contract will need to meet extra conditions to qualify for the special rate of relief.
How Could The Amendments Positively Affect Quarry Owners?
By making an investment now, you can secure cutting-edge equipment for your quarry whilst receiving hefty tax discounts. This will have long-term benefits as a new pump will continue to provide value after purchase.
Invest In Envirohub Today
Are you searching for a smart and efficient way to monitor, analyse, and treat your water onsite? Following the recent tax relief announcement, you may wish to invest in Atlantic Pumps’s EnviroHub control system.
Designed to detect harmful contaminants in your site water, Envirohub can help quarry managers protect the reputation of their companies, protect human health, keep wildlife and plants safe, and avoid hefty fines.
Our EnviroHub system allows users to remove excess water from construction sites and quarries, monitor and rectify concrete washout water, monitor wash plants, and ensure effluent treatments run smoothly and effectively.
Invest In Equipment From Atlantic Pumps Today
We offer a wide range of technologically advanced tools to enhance the operational efficiency of your quarry including dirty water pumps, peristaltic pumps, submersible pumps, centrifugal slurry pumps, and more. To make the most of these fantastic technologies while saving money, make a smart investment today while tax relief policies are in your favour. Browse the Atlantic Pumps website to find out more about our offerings.
