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News Release from: UHY Hacker Young
Edited by the Manufacturingtalk Editorial
Team on 15 September 2004
Go green and save thousands on UK tax
bills
UK manufacturers and suppliers using green machinery equipment could shave thousands off their tax bill with the extension of Government tax breaks, say experts.
UK manufacturers and suppliers using green machinery equipment could shave thousands off their tax bill with the extension of Government tax breaks, say experts Recent amendments to the Enhanced Capital Allowance Scheme allow more businesses to claim 100% first year capital allowances
This article was originally published on Manufacturingtalk on 6 Jan 2004 at 8.00am (UK)
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Energy saving plant machinery, technology and products that encourage sustainable water qualify under the scheme.
Roy Maugham, tax partner at national accountancy group UHY Hacker Young, said: "Companies can wipe off the whole of the capital cost of their investment against the taxable profits of the period.
The introduction of further technological classes means that many more businesses can qualify for the scheme".
The new measures have been introduced in a bid to encourage businesses to buy products with greater energy efficiency.
For further details of the scheme see: http://www.inlandrevenue.gov.uk/capital_allowances/eca_guidance.h tm.
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