Last chance to claim enhanced capital allowances

Source: HM Revenue & Customs | | 13/11/2019

There is a special scheme known as the enhanced capital allowances (ECA) scheme for energy-saving technologies. The ECA scheme enables a business to claim accelerated tax relief 100% first year allowances (FYA) on qualifying energy efficient and environmentally beneficial technologies.

The accelerated tax relief is designed to encourage businesses to invest in technologies that are energy saving, reduce water use and improve water quality. The ECA schemes are particularly beneficial for those businesses that have fully used their annual investment allowance. The qualifying Energy Technology List (ETL) and Water Technology List (WTL) is applicable for the current 2019-20 tax year.

However, from 1 April 2020 the availability of FYAs and associated first year tax credits available for products on the ETL and WTL will cease. ECA expenditure incurred on qualifying items up to April 2020 will still be eligible for relief.

For most businesses, the majority of the expenditure they incur on plant and machinery will still be eligible for full relief under the Annual Investment Allowance (AIA). However, this change will affect businesses with eligible spend over the AIA limits after April 2020.



Contact Us

21 Heavitree Road
Exeter
Devon
EX1 2LD
Tel: 01392 823999

Also in Seaton:

8-10 Queen Street
Seaton
Devon
EX12 2NY
Chris Hammett
Tel: 01297 624188  

 

Cookie Policy

Latest News

Updated calculator on calculating holiday entitlement
05/12/2019 - More...
The Government has published a revised holiday entitlement calculator, intended as a temporary replacement while the

Shared parental leave entitlements
04/12/2019 - More...
The shared parental leave and pay rules offer working parents’ far greater choice as to how they share the care of

Child Benefit tax charge
04/12/2019 - More...
The High Income Child Benefit tax charge could apply to you or your partner if either of your individual taxable

Newsfeed Search


Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login