UK Small Businesses Get Tax Break for Onsite Solar
Small and medium-sized businesses in the UK are encouraged to take advantage of their Annual Investment Allowance (AIA), a government incentive in which businesses can benefit from 100 percent tax relief until the end of 2015 on up to $798,000 spent on plant or machinery, including onsite renewable energy.
Solar panel installer EvoEnergy says firms can use their AIA allowance on solar PV.
For a small business owner paying 20 percent corporate tax, this means as much as $160,000 on large investments can be offset against tax in year one.
By choosing renewables, a business can also benefit from the government’s 20-year feed-in tariff (FiT), which guarantees to pay a set rate for every unit of electricity generated.
EvoEnergy says that solar installed on a factory or warehouse roof puts a previously dead space to good use and allows SMEs to maximize their tax breaks and earn money on self-generated energy.
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