A super incentive to invest in a workforce management solution

With the Chancellor of the Exchequer’s recent announcement during the UK budget, there has perhaps never been a better time to invest in a workforce management solution which will help your business operate more efficiently and increase productivity, as well as reduce HR management administration costs. In his 2021 Budget speech, Rishi Sunak introduced the following new capital allowances in order to encourage businesses to invest in their future prosperity. • Super-deduction allowances of 130% on most new plant and machinery investments that ordinarily qualify for 18% main rate writing down allowances. • A first-year allowance of 50% on most new plant and machinery investments that ordinarily qualify for 6% special rate writing down allowances These new allowances apply to any investments made between 1st April 2021 and 31st March 2023 and are in addition to the Annual Investment Allowance 100% relief available until 31st December 2021 for investments of up to £1m. They are also in addition to the new Enhanced Capital Allowances for those within the designated Freeport tax sites. Invest wisely with Synel From small factories and warehouses employing just a few people, through to university campuses, healthcare facilities, retail stores and large office complexes, Synel provides customisable, scalable and easy to use systems which will help you monitor and identify opportunities to increase productivity, regardless of whether your employees are office based, working from home, or are out in the field. The Time & Attendance solution at the heart of Synergy Workforce, Synel’s suite of workforce management software, enables businesses to effectively manage the time and efficiency of employees from clocking in and out, through to scheduling and productivity planning, analysis and management. Synergy Workforce also provides the opportunity for our clients to take advantage of a wide range of optional workforce activity modules which can be used on-site or remotely by field-based employees. These include shift scheduling, cashless catering, and time costing, as well as document management, expenses management, and visitor management. With such generous allowances immediately available, now is the time for you gain a greater understanding of the effectiveness of your workforce and make it so much easier to manage individual employees, without cumbersome paperwork trails. To find out more how you can do so, please call Synel UK on 0208 900 9991, email sales@syneluk.com or visit www.synel.co.uk/ Please note: Synel Industries (UK) Ltd is not offering, and does not offer, financial or tax advice. The purpose of this article is to report on the incentive scheme launched by the UK government. Any organisation which is considering investing in a workforce management solution should seek confirmation from its own tax advisor for its eligibility. Further information is available from the UK government website here (links to third-party site): Super-deduction – GOV.UK (www.gov.uk

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