LOGISTICS UK, along with seven other trade association, has written a letter to Chancellor Jeremy Hunt MP, calling for a more flexible Green Super-Deduction scheme, once the current super-deduction programme finishes at the end of March.
Introduced from 1 April 2021, the super-deduction programme allows companies to claim 130% capital allowances on qualifying plant and machinery investments. With the scheme coming to an end, Logistics UK is calling for a permanent 100% tax deduction for capital spending, to support the transition to net zero and increased productivity. The letter highlights the need for such support to be more flexible by extending it to leasing and short-term hire.
