CBILS plus the Super Deduction

The Capital Allowance Super Deduction announced in the Budget, effectively offers a reduction of up to 25p in Corporation Tax for every pound invested in new machines, so it’s not surprising that many companies are waiting for this to kick-in before investing in new equipment.

However, there is a window of opportunity to benefit from both the Super Deduction and the Coronavirus Business Interruption Loan Scheme (CBILS), which pays the first 12-months interest and any set-up fees for you.

If you have an investment in mind, you can apply for a CBILS facility before 31^st March and the funding (if approved) will be available until the end of November 2021. The scheme supports a wide range of business finance products, including Term Loans, Sale and HP Back and Asset Finance.

For more information visit, www.compassbusinessfinance.co.uk/cbils or call on 01732 833477, who may be able to support you further.

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