By Lucy Hamilton Construction • Digital Construction • News • Press Coverage 0 Comments

Press Coverage – CES interview with Sam Hough and Nathan Patton

Press Coverage – CES interview with Sam Hough and Nathan Patton

Have you seen the March issue of CES Magazine? Out now, this publication features an interview by CES Deputy Editor, Danielle Kenneally, who had plenty of questions she wanted answering on behalf of the Chartered Institution of Civil Engineery Surveyors. Who better to field her enquires on ‘Looking at why digitisation in the construction industry does and doesn’t happen, than the perfect double act of BuildingPoint UK and Ireland’s Business Manager, Sam Hough, and Trimble’s Product Manager in Strategy and Innovation in Building Construction, Nathan Patton.

Not afraid to tackle the tricky topics of barriers to digitisation, should we fear the robots and is progress being made, Danielle wasn’t afraid to check with Sam if Nathan had lived up to the hype as one of the industry’s top 22 young professionals to watch! Find out Sam’s answer on this and read the full interview here: 

By stuartguthriecadge Construction • News • 0 Comments

Something Super

The super deduction tax relief scheme in the UK is coming to an end soon.

So, if you’re planning to upgrade your tools of the trade, now would be an excellent time to do so.

Read on to discover how the scheme works, who’s eligible, and how much you can claim…

What is the Super Deduction?

Announced by then-Chancellor Rishi Sunak back in the 2021 budget, the super deduction scheme was established to boost investment, productivity and efficiency for UK businesses – especially after the hardship of 2020.

The scheme offers companies the rare opportunity to claim 130% tax relief on new plant and machinery, purchased before 31st March 2023.

Put another way, for every £1 you spend, your taxes are cut by up to 25p.

So, how does it work?

The scheme allows you to claim 130% tax relief on assets purchased before 31st March 2023.

Let’s look at an example.

Let’s say you purchase new kit at a total cost of £100,000.

In that accounting year, you can claim 130% of that figure (i.e. £130,000) from your taxable profits.

Applying 19% corporation tax to that £130,000 figure gives you a tax saving of £24,700

The table below provides a comparison of the Super Deduction with the previous system – as you can see, the tax saving is more than doubled in this example.

Read more