Who qualifies for the capital allowances super deduction?
There are several boxes that need to be ticked to claim the super-deduction. Some of the most important are:
Companies – Only companies can claim the super-deduction. The super-deduction is not available to other business types including individuals (i.e. sole traders), partnerships or limited liability partnerships (LLPs).
Main pool plant and machinery - The super-deduction is only available for “main pool” (sometimes called general pool) plant and machinery. This includes most business equipment and vehicles (but not cars), as well as many commonplace “fixtures” in properties, such as carpets, fittings and furnishings, sanitary appliances and fire alarms. The super-deduction is not available for other “special rate pool” plant and machinery fixtures, which include electrical power and lighting, hot and cold water, heating, ventilation, air conditioning, lifts and solar panels.
New and unused plant and machinery – The assets must be new and unused. So, the super-deduction is not available to buy second-hand plant or machinery, such as fixtures that form part of purchased freehold commercial property.