United Kingdom · Question · Written question
UIN 167942
Software: Capital Allowances
Introduced
12 March 2021
Last action
17 March 2021 · Answer
Status
Answered
Sponsors
—
Subjects
Discovery layer
Source updated
17 March 2021
Summary
To ask the Chancellor of the Exchequer, whether investment in software can qualify for 130 per cent super-deduction capital allowance in 2021-22 and 2022-23 under section 815 of the Corporation Tax Act 2009.
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Timeline
12 March 2021
Written question
To ask the Chancellor of the Exchequer, whether investment in software can qualify for 130 per cent super-deduction capital allowance in 2021-22 and 2022-23 under section 815 of the Corporation Tax Act 2009.
Source: Commons
17 March 2021
Answer
The super-deduction capital allowance will allow companies to reduce their taxable profits by 130% of the value of their investment in plant and machinery. Investment in software can be classified as either a revenue expenditure, in which case it is deduc...
Source: Written answer
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- · Treasury · Answering body
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Sources
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- Official source: https://questions-statements.parliament.uk/written-questions/detail/2021-03-12/167942
- Open data entity: https://questions-statements-api.parliament.uk/api/writtenquestions/questions/1302220
- uk · wq-1302220 · source updated 17 March 2021