On 28 April, Hitachi Capital Business Finance will host an online event for its brokers providing information about the new Super Deduction tax break. 

Hitachi Capital’s David Yeomans, group head of tax, will lead the session as well as answer any questions from brokers with specific queries.

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The Super Deduction tax break has been proposed to encourage firms to invest in productivity-enhancing plant and machinery assets that will help them grow and encourage people to make investments now. 

The tax break will allow companies to cut their tax bill by up to 25p for every £1 they invest, ensuring the UK capital allowances regime is amongst the world’s most competitive. From 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will be able to claim: 

  • a 130% super-deduction capital allowance on qualifying plant and machinery investments.
  • a 50% first-year allowance for qualifying special rate assets.

David Yeomans has 17 years of tax experience under his belt having worked for HM Revenue & Customs, as well as KPMG before joining Hitachi Capital back in 2018 as a senior tax manager.

He has a broad range of experience in various tax roles across many sectors and has now taken on the role of group head of tax for Hitachi Capital (UK) Plc. 

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The Q&A session will be live-streamed via an online platform at 11am on Wednesday 28 April. 

Geoff Maleham, joint interim managing director at Hitachi Capital Business Finance: “The last 12-months have been turbulent for the small business and broker community, not least from the immediate challenges that Coronavirus has presented, but also the number of schemes that they have both had to get to grips within such a short space of time.

Hitachi Capital Business Finance, a division of Hitachi Capital (UK) Plc, provides business asset finance to SMEs and bigger corporations across the UK and has an asset portfolio of more than £1.3bn,