Tax Relief on Workplace Furniture

tax relief on office furniture

The Government is offering Super Tax Deductions on all office furniture and fits outs from now until 2023. That means you can cut your tax bill by up to 25p for every £1 you invest in reviewing and redesigning your workspace to welcome back your people safely into the workspace. So, why not take advantage to re-fit your workplace?

As well as taking good care of the wellbeing of your employees, an inspiring new workspace refurb will be sure to boost productivity, enhance staff morale and increase your retention of your best people.

How does it work?

From 1 April 2021 until 31 March 2023, companies investing in qualifying investments, including office furniture, will benefit from a 130% first-year capital allowance. Investing companies will also benefit from a 50% first-year allowance for qualifying special rate (including long life) assets.

What expenditure qualifies?

The good news is, most of the products related to a workplace refurbishment qualify for the 130% super- deduction, as long as they are new and unused, including:

  • Fittings, furniture + equipment
  • Telephone + computer systems
  • Security systems
  • Heating, air conditioning and ventilation systems
  • Electrical lighting and power systems
  • Cold water systems

Who qualifies?

The super-deduction is available to any business within the charge to corporation tax. It is not currently available to sole-traders, partnerships, or LLP’s.

Get in touch

We know a thing or two about managing a redesign or fit-out project, and we’re always looking out for ways to help businesses optimise their workspaces in the most efficient and productive way possible.

Contact our friendly, knowledgeable team today to find out how we can help your vision come to life in the most productive way. Call us on 08448 544 121 or email us at sales@upstreamworkplace.com.

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