Clive Owen LLP

Ahead of the Autumn Statement, Lee Watson, tax partner at Clive Owen LLP suggests that the Chancellor should consider the continuation of the super deduction to help businesses continue to invest “The government introduced the super deduction to give almost 25% tax relief on the cost of new plant, machinery and commercial vehicles, whilst the headline corporate rate of tax was 19%. The super deduction is due to end in March 2023 but with the country facing a potential recession and corporate tax set to rise to 25%, the government could introduce another super deduction to encourage companies to continue to invest.”