Accelerated capital allowances for energy efficient equipment

Budget 2017 introduced an extension to the 100% first year tax relief on the cost of installing qualifying energy efficient equipment to include sole traders within the farming and marine sectors.

The Accelerated Capital Allowance (ACA) scheme will now enable farming and marine sole traders as well as companies to write off 100% of the cost of qualifying energy efficient equipment against profits in the year of purchase.

ACA was originally introduced as a tax incentive for companies paying corporation tax and aims to encourage investment in energy efficient equipment. The scheme offers an attractive incentive to write off 100% of the purchase value of qualifying energy efficient equipment against profit in the year of purchase.

The Budget extension will assist the farming community but does not extend the scheme to other sole trader businesses. There is however still a significant opportunity for companies operating in other industries to avail of the accelerated tax relief.

If your company has incurred expenditure on mechanical or electrical installations or commercial catering equipment we can review the opportunity for additional tax relief.

Contact us now for a ‘no foal no fee’ review.

Call 066 7181871 or visit. www.caplus.ie