Busted Networks https://bustednetworks.com IT Support, Busted Networks are your local IT consultants in Portsmouth and offer a wide range of technical support services for businesses across Hampshire. Mon, 21 Aug 2023 17:30:35 +0000 en-GB hourly 1 https://wordpress.org/?v=5.4.18 https://bustednetworks.com/content/uploads/sites/14/2025/04/cropped-eurotux-logo_icon-32x32.png Busted Networks https://bustednetworks.com 32 32 Government 2023 Spring Budget Offers 100% Write-offs on IT and Other Equipment https://bustednetworks.com/2023/06/government-2023-spring-budget-offers/ Wed, 21 Jun 2023 13:33:03 +0000 https://bustednetworks.com/?p=1795 If you're not already aware, the government's recent 2023 Budget allows for companies to claim 100% capital allowances on qualifying plant and machinery investments against taxable profits for the next 3 years. This includes IT equipment, such as computers and printers.

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]]> If you’re not already aware, the government’s recent 2023 Budget allows for companies to claim 100% capital allowances on qualifying plant and machinery investments against taxable profits for the next 3 years. This includes IT equipment, such as computers and printers.

From the gov.uk website:

Most tangible capital assets, other than land, structures and buildings, used in the course of a business are considered plant and machinery for the purposes of claiming capital allowances.

Plant and machinery that may qualify for full expensing includes (but is not limited to):

  • machines such as computers, printers, lathes and planers
  • office equipment such as desks and chairs
  • vehicles such as vans, lorries and tractors (but not cars)
  • warehousing equipment such as forklift trucks, pallet trucks, shelving and stackers
  • tools such as ladders and drills
  • construction equipment such as excavators, compactors, and bulldozers
  • some fixtures such as kitchen and bathroom fittings and fire alarm systems

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]]> Review Your It Needs For Possible Tax Relief! https://bustednetworks.com/2021/05/review-your-it-needs-for-possible-tax-relief/ Fri, 21 May 2021 13:48:24 +0000 https://bustednetworks.com/?p=1801 In the 3 March 2021 Budget, the Government announced new temporary tax reliefs on qualifying capital asset investments from 1 April 2021.

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]]> In the 3 March 2021 Budget, the Government announced new temporary tax reliefs on qualifying capital asset investments from 1 April 2021. This may be a handy temporary tax relief for those considering investing in IT. We have clients who received this benefit on the purchase of IT servers, printers, laptops, communication equipment and WiFi. Contact your accountant and look at the Government website to see if you qualify. Then contact Busted Networks if you’d like to upgrade any of your IT.

This measure will temporarily introduce increased reliefs for expenditure on plant/machinery. For qualifying expenditures incurred from 1 April 2021 up to and including 31 March 2023, companies can claim in the period of investment:

  • A super-deduction providing allowances of 130% on most new plant/machinery investments that ordinarily qualify for 18% main rate writing down allowances
  • A first year allowance of 50% on most new plant/machinery investments that ordinarily qualify for 6% special rate writing down allowances

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