Home Services Products Our Work Sustainability Current Page: Blog Office Supplies Contact Super-deduction tax savings for office furniture Sep 29 What is super-deduction and why should you take advantage of it? The benefits of a revitalised office environment are numerous and well known. From facilities that improve employees’ concentration and communication, to collaborative hubs that provide an enjoyable, social space for teams to come together, research shows that refreshed workspaces can reenergise and inspire at all levels. Super-deduction can help As office furniture is considered a tangible capital asset used in the course of business, it is eligible for the Government’s super-deduction capital allowance. In the 2021 Budget, the Chancellor announced a temporary change to tax relief which allows companies to claim enhanced capital allowances on qualifying plant and machinery assets, which includes office chairs and desks. Every £100 spent on office furniture by a limited company between 1st April 2021 and 31st March 2023 can reduce its tax bill by £24.70. Here is an example A company incurring £1m of qualifying expenditure decides to claim the super-deduction Spending £1m on qualifying investments will mean the company can deduct £1.3m (130% of the initial investment) in computing its taxable profits Deducting £1.3m from taxable profits will save the company up to 19% of that – or £247,000 – on its corporation tax bill. The government has issued a helpful factsheet which specifically refers to office chairs and desks on page two. View the super-deduction Government factsheet Now is the time to refresh the office As more people return to the workplace, businesses are increasingly looking to redesign and refurbish their office space. Many employers are encouraging hybrid working, with flexible and collaborative spaces at its heart, while others have made the decision to adapt, consolidate, repurpose or perhaps relocate their offices altogether. For whatever reason, there has never been a better time to consider changing your office environment. Offering more than just the super-deduction Tax benefit, new office design, installations and refurbishments provide a fresh and welcoming environment to those returning to the workplace after an extended time away. Investment in their surroundings can help employees to feel appreciated, while new equipment will help the office to feel clean and fresh. Our office interiors brochure is full of pictures and inspiring ideas. If you are considering changing your office environment, this is the time to do it. We are expecting many of our clients to take advantage of the super-deduction Tax benefit, so if you are interested in talking to us a little more about what we can do, please contact us and we will be happy to help. Download our office interiors brochure with over 200 pages of designs, advice and inspiration Please enter your email and download our brochure More reading… Super-deduction tax savings for office furniture As office furniture is considered a tangible capital asset used in the course of business, it is eligible for the Government’s super-deduction capital allowance. With more people returning to the workplace, businesses are increasingly looking to redesign and refurbish their office space. Many employers are encouraging hybrid working, with flexible and collaborative spaces at its heart, while others have made the decision to adapt, consolidate, repurpose or perhaps relocate their offices altogether. For whatever reason, there has never been a better time to consider changing your office environment. Read More → Our education furniture lookbook Have a browse through our education lookbook which is full of inspirational ideas for the latest in education furniture. We want to help you make great educational spaces where everyone can do their best work. Spaces that centre on our mental & physical wellbeing. Spaces we can’t wait to return to. Read More → How to create an effective home office Working from home has become a fact of life for all of us. Some of us are home-based every day, and some are timesharing between home and their usual workplace. Read More → Next Our education furniture lookbook Prism HQ 107 Longmead Road Emerald Park East Emersons Green Bristol BS16 7FG 0333 456 1501 sales@prismoffice.co.uk Our Locations Bristol 0333 456 1501 sales@prismoffice.co.uk Devon & Cornwall 0333 456 1511 devoncornwall@prismoffice.co.uk Somerset 0333 456 1505 somerset@prismoffice.co.uk Surrey 0333 456 1507 surrey@prismoffice.co.uk West Midlands 0333 456 1509 midlands@prismoffice.co.uk Wiltshire 0333 456 1503 wiltshire@prismoffice.co.uk This website uses cookies as described in our Privacy Policy. Terms and Conditions