Now is the perfect time for companies to invest in new office furniture and re-shape their offices as the UK Government has introduced a significant tax incentive scheme to encourage business investment. This super-deduction tax break to save money on office furniture, has recently been introduced and this could be quite the incentive needed to invest in improving the office environment – and encouraging workers back into the office.
In the Budget 2021, the Chancellor announced a temporary change to tax relief which allows companies to claim enhanced capital allowances on qualifying plant and machinery assets, which includes office chairs and desks. The scheme is intended to be highly beneficial for businesses and the Government has high hopes that it will aid economic recovery by encouraging businesses to invest in themselves.
For expenditure incurred from 1st April 2021 until the end of March 2023, companies can claim 130% capital allowances on purchases of office furniture, and under the super-deduction, for every pound a company invests, their taxes are cut by up to 25p.
This is fantastic news for businesses looking to purchase office furniture in the next 2 years, whether that be a re-vamp or to create a new office. The wellbeing of employees in the workplace is becoming more vital, and office furniture can play a huge part in help to keep people happy and healthy when they’re working. Office Furniture 2 Go can help businesses retro-fit their existing products, making the office covid-secure, and help them re-imagine the new normal.
Don’t miss out on this incentive to improve the office environment and re-design the workspace. For further information on the super-deduction tax break, and to view our extensive range of office furniture, please contact us here.