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What are super deductions on capital allowances?
Michelle Monck

Michelle Monck

Consumer Finance Expert
Published: 08/06/2021

Article written by Ultimate Finance, an asset finance and invoice finance lender.
John Farquharson, Head of Finance at Ultimate Finance explains how the Super-deduction capital allowance scheme works.

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Bridging lending increases as buyer demand outstrips supply
Data  from the Association of Short-Term Lenders (ASTL) shows the demand from consumers and businesses to get a bridging loan in the UK has increased at the start of 2021.  Applications have exceeded pre pandemic levels by just over a quarter and the value of these was up 18% comparing Q1 2021 to the same period in 2020.  The number of completions in Q1 was also up by just over 10% comparing Q1 2021 to Q1 2020. 
However, comparing the number of completions in Q4 2020 to the start of 2021 shows a reduction of 1.9% in completions. This may be due to the heated property market marginally slowing down completion times due to sheer levels of demand and because of multiple applications from brokers to bridging lenders. 
Vic Jannels CEO of the ASTL said “The value of completions remains relatively steady, which means we are seeing an increasing number of bridging loan applications that are not progressing through to completions.
This is likely to be a combination of more rigorous underwriting by lenders, brokers hedging their bets by submitting multiple applications to multiple lenders and some cases where bridging is no longer required by the time of the completion date.”

 

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Case study: invoice finance helps energy firm to grow

Invoice finance lender Satago recently helped Unyte Energy to scale its business by releasing cashflow to pay more installers and help it maximize returns from a new and large contract.


Unyte Energy was established in 2019 and is part of Unyte Capital Group. The firm aims to help households reduce their environmental impact and to tackle fuel poverty. They do this through a network of installers fitting energy efficient boilers and insulation.


Unyte Energy signed a £9m deal with one of the ‘big six’ energy suppliers to help it meet its requirements set by Government to help households become more energy efficient. The firm had achieved a turnover of £3m within just six months and now needed to make sure it could pay an expanding team of installers on time.

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Moneyfacts.co.uk launches new broker links to support business visitors

Moneyfacts.co.uk has announced the appointment of three new preferred brokers to help its business visitors to borrow better.

These are:
Regulated bridging broker – Loans Warehouse
Commercial mortgage, business loans and unregulated bridging broker – Watts Commercial
Asset finance – Goodman Corporate Finance.

 

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Five scenarios where invoice finance can solve your business funding needs

The examples in this article have been provided by Satago, an invoice finance lender. 

As we look tentatively towards a post-pandemic future, businesses are weighing up their finance options. One product you might not have considered is invoice finance.

Invoice finance allows you to advance a percentage amount of your invoices and get paid early for completed work. This amount can vary by lender - you can compare these and other eligibility requirements on our invoice finance chart. Used the right way, it can help you improve cash flow, fund new projects and grow your business.

Here are five scenarios where invoice finance can provide the perfect solution for your funding needs.

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Recent News

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2021 Business Current Accounts and Business Credit Cards Star Ratings revealed

12th May 2021

After a challenging year for many businesses, business owners may be considering switching to a new business current account or opening a new business credit card

After a challenging year for many businesses, business owners may be considering switching to a new business current account or opening a new business credit card

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The best business savings accounts

16th April 2021

Business savings accounts are good options for businesses that have extra funds that are not currently needed

Business savings accounts are good options for businesses that have extra funds that are not currently needed

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What you need to know about the tax allowance 2021/22

1st April 2021

During April many tax allowances and thresholds will increase, which could see consumers gaining more in their monthly wages, but also may result in having to pay higher taxes

During April many tax allowances and thresholds will increase, which could see consumers gaining more in their monthly wages, but also may result in having to pay higher taxes

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CBILS ends – what is the new Government loans scheme for businesses?

31st March 2021

The Coronavirus Business Interruption Loans Scheme (CBILS) has now closed to applications. The Chancellor announced a new Recovery Loan Scheme will take its place.

The Coronavirus Business Interruption Loans Scheme (CBILS) has now closed to applications

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Most Popular Business News

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What are super deductions on capital allowances?

8th June 2021

Businesses planning to acquire plant and machinery between 1 April 2021 and March 2023 could claim the Super-deduction capital allowance to write off the cost of certain capital assets against taxable income.

Businesses planning to acquire plant and machinery between 1 April 2021 and March 2023 could claim the Super-deduction capital allowance

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Bridging lending increases as buyer demand outstrips supply

28th May 2021

The entire UK property market is currently seeing huge demand from buyers as a result there has been more demand for bridging loans, mortgages and secured loans.

The Uk property market is currently seeing huge demand from buyers.

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What you need to know about the tax allowance 2021/22

1st April 2021

During April many tax allowances and thresholds will increase, which could see consumers gaining more in their monthly wages, but also may result in having to pay higher taxes

During April many tax allowances and thresholds will increase, which could see consumers gaining more in their monthly wages, but also may result in having to pay higher taxes

Read More
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Five scenarios where invoice finance can solve your business funding needs

18th May 2021

As we look tentatively towards a post-pandemic future, businesses are weighing up their finance options. One product you might not have considered is invoice finance.

As we look towards a post-pandemic future, businesses are weighing up their finance options. One product you might not have considered is invoice finance.

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