A message from Rapid Racking’s MD. 

Dear customer,  

As a UK business, we feel it is our responsibility to remind you about a tax-saving initiative you may be entitled to.  

In 2021 the UK Government introduced a nationwide super-deduction, and your business may be eligible to use this with Rapid Racking until 31 March 2023.  

This scheme offers a temporary 130% super-deduction for main rate assets and a temporary 50% first-year allowance for special rate assets. These allowances can include new plant equipment and machinery integral to a business. For example, racking or shelving used by a business to hold its stock can fall into this category, as can pallet trucks.  

The government’s super-deduction will give Ltd companies an opportunity to make additional investments, and bring planned investments forward by implementing a much higher tax deduction than normal.  

What you can claim with the super-deduction: 

  • 130% super-deduction capital allowance on qualifying plant and machinery investments; 
  • A 50% first-year allowance for qualifying special rates assets; 
  • Under the super-deduction, for every £1 a company invests the tax bill is reduced by up to 25p. 

How the super-deduction can influence your tax bill [for example]: 

The above example assumes that the AIA allowance for a business has already been fully utilised. 

Please speak to your finance director or accountant before purchasing to determine if your business is eligible for the super-deduction scheme.  

Find out more here.  

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