Today Jeremy Hunt announced his budget and there were two main points which jumped out to me. Firstly, an increase in corporation tax (19 to 25 % for profits over £250K) and more importantly for us – Companies able to deduct investment in new machinery and technology to lower their taxable profits.
Obviously, the more you spend the less profit and tax you’ll pay but it may be time to loosen the purse strings on the new technology investments you have been thinking about. Could the investment in the new Knauer HPLC, Antec ECD or LCTech PFAS system be the difference in corporation tax bracket or even be paid off with the savings?
If you think it could be, perhaps we could help you save and enable you to move forwards with great technology whilst saving money?
Budget 2023: Key points at-a-glance – BBC News
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