Business: Taxation
(asked on 26th April 2021) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of extending the super deduction to unincorporated businesses.
This question was answered on 29th April 2021
The super-deduction is available only to incorporated businesses subject to the charge of UK corporation tax.
The Government has no plans to extend the super-deduction to unincorporated businesses.
Unincorporated businesses can continue to claim 100% relief on qualifying investments in plant and machinery through the Annual Investment Allowance, which will remain at its highest ever level of £1 million until the end of 2021.