For two years from 1 April 2021, any investments your business makes in plant and machinery will qualify for a 130% capital allowance deduction. You might also benefit from a 50% first-year allowance for qualifying special rate (including long life) assets. The 130% super-deduction and 50% first-year allowance are brand new capital allowances for investments in plant and machinery assets. They could reduce your corporation tax bills until 2023. The super-deduction tax break is intended to spur business investment, boost the UK’s post-pandemic economic recovery and improve the country’s productivity levels over the next two years. Your business is eligible if you spend money on any of the 'qualifying' assets between April 1 2021 and March 31 2023. Find out more here.