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

ECP BOSS WARNS OF BLOCK EXEMPTION ‘EXISTENTIAL THREAT’

Andy Hamilton rails against VM ‘mini monopolies’ and demands that the UK government and the CMA take action in face of ‘abuse’ of the rules

Read More

PRA BOSS CALLS FOR FORECOURT ‘PINGDEMIC’ EXCLUSION

‘Forecourt workers are essential and should be exempt from self-isolation requirements if fully vaccinated’, say PRA

Read More

YORKSHIRE EXHAUST SPECIALISTS SAY ‘YES’ TO AAG BUYOUT

Leeds-based firm had been a UAN member and employed over 60 people

Read More

NEW TRADE COALITION FORMED TO FIGHT BLOCK EXEMPTION THREAT

AFCAR comprises of bosses from four major UK trade bodies

Read More

HALFORDS TO HIRE 700 TECHNICIANS

Chain hiring following a busy year for vehicle mobile servicing and pedal cycles

Read More

Go to comments

Your email address will not be published.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