Another reason to visit our stand at MACH2022
Thought it might be useful to share some comments I remembered reading. And that’s why we will be exhibiting at MACH2022 April 5-8 2022 at The NEC.
All the more reason for UK engineering and manufacturing companies to invest NOW in capital equipment, James Selka, CEO of the MTA (organisers of MACH Exhibitions) said this:
For 2022, there are extra incentives in place for companies looking to invest in the latest machine technology, principally the SUPER DEDUCTION INITIATIVE announced by the Chancellor earlier this year.
Running until 31st March 2023, the new scheme means companies investing in qualifying new plant and machinery assets will be able to claim a 130% super-deduction capital allowance on their plant and machinery investment, plus a 50% first-year allowance for qualifying special rate assets.
The super-deduction scheme will allow companies to cut their tax bill by up to 25p for every £1 they invest. The incentive scheme is intended to jump-start the manufacturing sector as it looks to bounce back quickly from the pandemic-induced recession.
The Office for Budget Responsibility (OBR) has predicted the scheme could encourage manufacturers to bring forward investment plans originally scheduled for much later in the decade.
“With MACH 2022 falling right in the middle of the scheme’s two-year window, the timing of the show could not be better. Bringing forward capital investment decisions to the present will enable the industry to bounce back from the effects of the pandemic far quicker,” added Mr Selka.
Visit us on stand 310 Hall 19
#grinding #ukmfg #manufacturing #engineering #exhibition #tooling