Get your tax super-deduction by investing in Wise Robotics
|Article by Megan Gee
Investing in automation has many different ways to improve your business. To name just a few, your warehouse can become much more efficient, pickers can up-skill into new and different roles, and seasonal hiring spikes become much less problematic.
Since 2021, the UK government added a new benefit to automation investments. The ‘super deduction’ tax scheme. A form of tax relief that your business needs to be taking advantage of before the 31st March 2023.
What is a ‘super deduction’?
A ‘super deduction’ is a short-term tax benefit scheme designed by the UK government. It is a reward for businesses making investments in qualifying plant and machinery assets.
This £25bn tax break was announced by the Chancellor as part of the March 2021 Budget. It provides 25p off your tax bills for every pound invested into the kinds of robotics and automation technology provided by Wise Robotics.
Why has it come into force?
The government is looking to stimulate growth and supercharge the post-COVID-19 recovery process. They are also using this moment as an opportunity to fully future-proof UK business in terms of technological infrastructure linked to industry 4.0.
Currently, Germany uses over 10x more robots in their business operations than every nation of the UK put together. To make sure the UK is ready for robots, the government wants to back British businesses willing to make forward-thinking technological investments. Since the robotics revolution is already here, our economy needs to adapt accordingly.
When will it start?
The tax break will be available on all qualifying expenditures made up until 31st March 2023.
It’s never been a better time to explore your options for warehouse automation. Starting your research NOW can ensure you can be in the best position to take advantage of the tax break within the next two years. Make sure you’re ready to make your industry 4.0 investment very soon.
Does Wise Robotics qualify for the scheme?
Yes! We’re excited to say that all the options offered by Wise Robotics will qualify for the government scheme. One of the major focuses of this plan is what HM Treasury has described as “productivity-enhancing plant and machinery assets”. This is exactly what Wise Robotics provides to our clients, with many businesses in line to see pick rates rise by 500%.
What’s next?
Come and talk to us about the next generation of warehouse robotics. You can book a consultation, and visit us at our demonstration centre. Wise Robotics is proud to operate Europe’s first flexible automation demonstration centre, allowing you to see in person the full range of what the robots can offer.
Discover what Wise Robotics can provide your warehouse in terms of efficiency, and to your business in terms of competitiveness. Remember, the robotics revolution isn’t coming. It’s already here. With the right strategy in place, British businesses can come out on top.
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