Somerset, UK -- (SBWIRE) -- 11/11/2021 -- The design and fit-out of every workplace have become incredibly important post-COVID. Creating a space that employees want to return to, which helps boost productivity and fosters a sense of community, is key. There are lots of different ways to approach an office fit-out or refurbishment to help improve employee experience, increase collaboration and make your office environment a more engaging space. The Super Deduction Tax Scheme - which was announced in 2021 - could make this even easier to achieve, especially for those who are working to a budget.
Making the Super Deduction Tax Scheme work for your office fit-out
Thanks to the new scheme introduced by the government, any investment that your business makes against qualifying plant and machinery before March 2023 will benefit from a 130% tax allowance.
Weak business investment is something that the UK struggled with even before the pandemic - a wealth of studies has shown that this can have a very negative impact operationally, on productivity, for example. These low levels of investment are often highlighted as one of the reasons the UK has such a productivity gap. During the lockdowns that defined 2020 and early 2021, business investment fell even further as many organisations struggled financially. The introduction of the Super Deduction Tax Scheme is designed to help improve investment levels and repair some of the damage done by the pandemic. It is one of a number of capital allowances brought in this year to help the business community. The capital allowances work like this:
- The Super Deduction allowance. 130% qualifying relief on first-year investment in plant and machinery for companies (up to 31 March 2023).
- The First-Year allowance. A 50% capital allowance for special rate (including long life) assets (up to 31 March 2023).
- Annual Investment Allowance. A 100% capital allowance that offers relief for plant and machinery investments up to a threshold of £1 million (up to 31 December 2021).
A COVID-focused fit-out
If you're looking for an opportunity to upgrade the COVID precautions in place in your office the Super Deduction Tax Scheme could provide benefits here too. Improved storage solutions can make it easier to reorganise an office space in line with pandemic-proof strategy and regulations while new furniture is often easier to repeatedly clean and disinfect. Screens, in particular, offer options for making an office environment a more COVID-safe place to be and provide reassurance to workers that their needs are being taken care of.
For those businesses on a budget, or management teams looking for the motivation to invest in an office fit-out to help boost morale and productivity, the Super Deduction tax scheme, and associated allowances, could deliver a tangible benefit.
Office Reality is a family run business, established in 2003, delivering interior solutions and essential, reasonably priced office furniture for organisations of all sizes. Office fit-outs - including those that can be enhanced with the Super Deduction tax scheme - are where the business really comes into its own, providing all the tools necessary to create the space that is going to work best for any business. The team at Office Reality has a wealth of fit-outs experience and an in-depth understanding of the process that is involved in making decisions about how to fit out a space. It also benefits from an in-house CAD design department and 3D visualisation capacity that enables customers and project managers to gain more insight and accuracy when putting projects together.
Over the years Office Reality has grown into a renowned furniture and interior solutions supplier for individuals, organisations and businesses. Vital to this has been the recognition of the true value of competitive, transparent pricing and a comprehensive online presence that makes it easy to quickly move projects forward. Office Reality now works with a range of clients on both a national and local basis, fulfilling a broad spectrum of different needs, from the most basic entry-level designs to bespoke furniture requirements individually tailored to precise specifications. Experience, product knowledge and consistent working relationships with established suppliers have all been vital to this process.
To find out more about how the Super Deduction tax scheme can benefit your office fit-out visit https://www.officereality.co.uk.
For any media inquiries please contact Gary Elliott at Iconic Digital – 020 7100 0726.
For all other inquiries please contact Office Reality: 01823 663880.
For more information about Office Reality services, please go to https://www.officereality.co.uk.
About Office Reality
Office Reality supplies businesses, organisations and individuals with competitively and realistically priced office furniture and interior solutions. Customers include small and large businesses and individuals from facilities managers, interior designers, and architects to domestic customers.