“Super Deduction” Tax Break For Workplace EV Charger Installations.
Companies installing chargers for Electric Vehicles can claim capital allowances of 130% under the government’s “Super Deduction”.
“Super Deduction” Tax Break
For Workplace EV Charger Installations.
130% capital tax allowance for workplace Electric Vehicle charger installation from April 2021 to March 2023.
Don’t miss your chance! Get in touch & book before March 2023 to guarantee you can use the Super Deduction.
Super Deduction: Tax Relief for Workplace EV Charging Point Installation
Here is what you need to know about the “super deduction” tax allowance introduced by the government as it pertains specifically to the installation of Electric Vehicle Charging points at offices’ off-road parking premises. The tax relief scheme is set to run from 1st April 2021 till the end of March 2023.
What Is “Super Deduction”?
The super deduction is a tax allowance scheme introduced by the UK government that applies to companies who are making an expenditure on plant and machinery (this includes the installation of Electric Vehicle charging points). Here is a link to the policy factsheet.
Being a “first-year allowance”, which allows an enhanced rate of tax relief for specified plant and machinery investments when claims are made in the period the expenditure is incurred; in this case, the year in which the EV charging points are installed.
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