BUDGET 2021: ‘SUPER DEDUCTION’ APPLAUDED BY PRA

Brain Madderson

A ‘super deduction’ on new plant and machinery announced by the Chancellor yesterday would help to reduce the tax bill on new investments by businesses by 130 percent of the total cost over the next two years.

READ: PRA CALLS FOR RATE RELIEF EXTENSION

The news has been broadly welcomed by industry, including the Petrol Retailer Association. Chairman Brian Madderson said “This scheme provides the incentive during these difficult times for fuel retailers to invest in new automated car washing facilities, new food to go or shop renovations, and chilled display cabinets. It is also an helpful first step to investment in new electric vehicle charging points to meet the projected growth in demand for EV’s”

Madderson also said that he ‘largely welcomed’ the rest of the budget speech, including a three month extension of 100 percent business rate relief  which will ‘make a substantial difference to fuel retailers’.

For the latest news and analysis from around the aftermarket, sign up to the CAT eNewsletter today

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

EAG UPGRADES WAREHOUSE MANAGEMENT

Leeds-based firm install MAM warehouse management system

Read More

SEMI-AUTOMATED BATTERY ASSEMBLY LINE ESTABLISHED

Comau UK chosen to implement highly automated production

Read More

ECP START ELECTRIC VAN TRIAL

A pair of electric vans have joined the fleet at Euro Car Parts’ Isle of Wight branch.

Read More

CAT CONVERSATIONS: GARAGE OF TODAY, TOMORROW AND THE FUTURE

Don’t miss out, sign up to CAT’s latest webinar on 21st April right now

Read More

£10 MOT OFFERED BY AGGREGATORS

GoCompare has struck a deal with garage comparison site Who Can Fix My Car

Read More

Go to comments

Your email address will not be published. Required fields are marked *