For expenditure incurred in a limited window, companies are able to benefit from a super-deduction. The super-deduction is available for new qualifying plant and machinery that would otherwise benefit from a writing down allowance at the main rate of 18%. However, cars do not qualify for the superdeduction. Further, the super-deduction is only available for investment in new assets; investment in second-hand assets does not qualify. The super-deduction is given as a first-year allowance at the rate of 130%. This means that where the super-deduction is claimed, the company is able to deduct a first-year capital allowance of £130 for every £100 of qualifying expenditure in calculating the taxable profits for the accounting period in which the expenditure was incurred. This will save corporation tax of £24.70 for every £100 invested in new qualifying assets (19% x £100 x 130%). To qualify for the super-deduction, the company must incur the expenditure on qualifying new plant and machinery between 1 April 2021 and 31 March 2023. A balancing charge may arise on the disposal of an asset that has benefited from the super-deduction. The calculation of the balancing charge will depend on when the disposal takes place.