Government Announces Super Deduction on Solar
In the recent Budget announcement from the Treasury, Rishi Sunak outlined plans for a ‘Super Deduction’ which will incentivise companies to upgrade certain infrastructure by reducing their tax bill. From April 2021, companies can claim up to 130% of their Capital Allowances back from the Government, for qualifying investments. The list includes both Solar PV as well as EV Charge Points.
Under the scheme, for every pound invested, the company can save up to 25p on taxes. This kind of saving is hoped to be a win-win, as companies save whilst improving their business. The list of qualifying items is presented below:
- Solar panels
- Electric vehicle charge points
- Computer equipment and servers
- Tractors, lorries, vans
- Ladders, drills, cranes
- Office chairs and desks
- Refrigeration units
- Foundry equipment
To find out how solar can help your business head to our Business Solar page https://nakedsolar.co.uk/solar-pv/business-solar/
Or call us on 01637 697009 to arrange your free survey.
If you want to learn more about the scheme, the first wave of information is available here: www.gov.uk/guidance/super-deduction