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High Efficiency Apricus Products admitted to the ETL Product List

02 May 2012

Aprics ECA ApprovalZoom

The Enhanced Capital Allowance (ECA) scheme enables businesses to claim a100% first year capital allowance on investments in certain energy saving equipment, against the taxable profits of the period of investment.

It is in recognition of the high efficiency of the Apricus Solar Collectors that they have been accepted onto the HMRC Energy Technology Product List enabling businesses who purchase the Apricus Products to qualify for the Enhanced Capital Allowance Scheme.

Capital allowances enable businesses to write off the capital cost of purchasing new plant or machinery (e.g. solar collectors, boilers, motors), against their taxable profits. For more information on capital allowances contact HMRC.

The general rate of capital allowances is 18% from April 2012 a year on a reducing balance basis.

If a business spent £10000 on a new Solar Array, claimed a standard capital allowance at the 18% rate and paid 25% corporation or income tax then the tax relief would be £450 in the first year. Further tax relief could be claimed in subsequent years. If however the business invested in the High Efficiency Apricus Solar Collector as listed on the Energy Technology List then it could claim an Enhanced Capital Allowance, giving a one-off 100% tax relief of £2500.

Additional benefits of purchasing ECA qualifying energy efficient technologies could include: improved cash flow, lower energy bills, reduction in Climate Change Levy or CRC payment.

 

 

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