EPoS Systems and Capital Tax Allowance
So, what’s it all about?The government introduced a ‘Capital Allowance Super Deduction’. This tax break came into effect on April 1st 2021 and will run until March 31st 2023. It is designed to incentivize companies into investment and expenditure post lockdown, applying tax relief to purchases that are essential in running your business. For companies it is an opportunity to invest and pay less corporation tax. The government has advised that businesses taking advantage of the scheme could cut their tax bill by up to 25p for every pound invested.
Why is an EPoS system included?
EPoS systems come under the heading ‘plant and machinery’ and as such are eligible for inclusion. It is worth noting, however, that it does not include investments in second-hand equipment or repairs to an existing system.
The future is hereThe most successful retail and hospitality businesses are those who embrace new, agile technologies that streamline the customer journey and capture their data and spend habits. Businesses are becoming savvy to the capabilities of modern POS software and just how much it can do to revolutionize both front-of-house and back office functionality.
Have a look at your hardware. If you’ve been looking at the same model of till since you can remember, it might be time to invest! The latest hardware, including tills, order at table devices and integrated payment systems, along with the right software package can enhance the customer experience, while allowing you to have firm control over all the
background elements which make your business a success.
Time to investHM Treasury have published a super-deduction factsheet outlining how the scheme works and the qualifying criteria.
So, if your EPoS system has given you great service, but you think now is the right time to invest, call us on 01422 349083 or email email@example.com for a free DEMO. We can talk you through what the latest technology can do for you.