Super-deduction is a tax relief scheme introduced by the UK government to encourage businesses to invest in new plant and machinery. Under this scheme, businesses can deduct 130% of the cost of qualifying investments from their taxable profits, in addition to the normal 100% deduction.
And that includes dentists and dental laboratory owners…
Dental business owners can benefit from this scheme if they invest in new plant and machinery for their practice or lab, such as dental chairs, X-ray equipment, 3D printers or computer systems. By claiming the super-deduction, they can reduce their taxable profits and therefore pay less tax. This can provide a significant boost to cash flow and enable investment in the latest technology and equipment to improve the quality of their services.
It’s worth noting that the super-deduction scheme is now only available for a limited time, finishing on 31 March 2023, so dental professionals who wish to take advantage of it should act quickly to make their investments before the deadline.
If you’d like to know more about how the super-deduction tax relief system can help you invest in your dental business, please get in touch with us now.
We can advise you on the most appropriate equipment solutions for your business and help you with the best dental finance deals to spread the cost of your investment, in association with our finance partners, Vector Finance.