Seeking to install solar? Access these Govt. tax benefits

Are you seeking to install solar panels on a commercial property?

If yes, here’s the good news.

From April this year, the Government is allowing companies to claim significant capital allowances, relating to qualifying plant and machinery.

You can claim capital allowances when your company buys assets to use, such as machinery, equipment, IT and commercial vehicles.

This also includes Solar PV and EV charge points.

You can deduct some, all, or more than all of, the value of these items from your profits, before you pay tax. This means of course, that overall, you pay significantly less tax.

It’s called super-deduction and for every pound you invest, the relative taxes you pay are cut by up to 25p.

The overall aim here is to boost business investment including investment in green energy systems. This makes 2021 an ideal time to move toward your carbon reduction targets, whilst cutting your energy bills.

Act now

If you’d like to get the benefits, it’s a good idea to act sooner rather than later.

Until 31st March 2023, super-deduction offers 130% tax relief for the first year.

HM Treasury’s Budget 2021 – super-deduction includes more facts and figures. It shows that under the previous system, if a company had invested £10m on qualifying assets, they’d get a tax saving of just under £498k. Under the new system however, in year one and with the same level of investment, they’d get a £2.47m tax saving.

Running until 30th September 2026, there’s also a Structures & Buildings Allowance (SBA+) for tax relief relating to property construction and renovation.

Here’s where Kembla comes in

Kembla delivers renewable expertise to UK commercial and domestic organisations.

From consultation to installation, it’s a comprehensive and caring, turnkey solution.

With your super-deduction tax benefit to claim and Kembla’s solar installation expertise to hand, you’ll be on the way to a greener and more profitable future.

To make a start, call Declan, company director at Kembla on 01543 713026 or email info@kembla.co.uk