Businesses in the UK are now able to claim 130 per cent of spend on new automated solutions to help cut their tax bill, thanks to a government incentive.
OW Robotics, supplier of flexible warehouse solutions, believes the scheme comes at the perfect time for businesses who are looking to upgrade their warehouse operations and boost their order fulfillment capacity in the face of ever-increasing volumes of online ordering.
The government announced in March that it would be introducing a super-deduction on businesses making investments in qualifying new plant and machinery assets. The idea behind the scheme is to help encourage companies in the UK to invest in productivity and performance boosting solutions to grow their business.
According to government statistics, levels of business investment fell in 2020, with a reduction of 11.6 per cent between Q3 in 2019 and Q3 in 2020, as businesses delayed investment decisions due to the Covid-19 pandemic.
The tax break which came into force on April 1, 2021, will be available on qualifying expenditure up until 31 March 2023. OW Robotics automated warehouse solutions, supporting software and its implementation services all qualify under the government scheme. This includes its goods-to-person, A-to-B and production line solutions.
For every pound a business invests in plant and machinery, its taxes can be cut by up to 25p. For more information about the scheme, visit www.gov.uk/guidance/super-deduction.
For more information on OW Robotics, visit www.owrobotics.co.uk
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