It is an essential element of the UK Industrial Strategy to encourage businesses to invest in green energy to ensure, we continue to reduce our carbon footprint. Environmental taxes have been making the headlines in recent months. The public is more aware of caring for the environment than ever before, with charges for carrier bags and coffee cups and the rise in popularity of electric cars and green energy suppliers to the home.
For business, the government wants to encourage businesses to operate in a way that has minimum impact on the environment. There are taxes and schemes for different types and size of business. You may get reliefs or be exempt from some taxes, if:
- you use a lot of energy because of the nature of your business
- you’re a small business that doesn’t use much energy
- you buy energy-efficient technology for your business
Here at GovGrant, we are passionate about enabling our clients to access the tax relief or tax credits available when purchasing energy efficient technology.
Before you purchase any of the following equipment as part of a refurbishment or construction project it’s a good idea to discuss which assets that are eligible for Enhanced Capital Allowances, a tax deduction or tax credit on the entire cost of the items.
- Air conditioning installations,
- Boiler equipment
- High-speed hand air dryers
- Pipework insulation
- Refrigeration equipment
- Solar thermal systems
- Uninterruptible power supplies
Energy efficient technology should form part of any investment. What’s more, with generous tax advantages for businesses who consider energy efficiency, it could be far more affordable than you think.
GovGrant works with businesses to maximise the value of innovation – including green technologies.