One month and twenty-two days left for massive tax relief

Are you paying too much for your electricity? If you haven't got voltage optimisation already in place, then the answer is very likely to be a YES. Let us explain why: the average current coming out of our sockets is 242 Volts. That is exactly 10% more than what most of our electronic devices are designed for - 220 Volts.

So what happens with the excess 22 Volts? You pay for them! An unnecessary waste that does not only affect your electricity bill, but also the lifespan of your equipment. Climateq offers the solution: voltage optimisation. We will look at your energy bill and measure the current coming through your sockets to present you, free of charge, with a guaranteed return on your investment - generally between 18 and 24 months. And there are more great news - HMRC will give you a mighty tax relief against your capital investment (see graphic below for details).

Time is of the essence, but we are able to turn this around fast enough to fall within that timeframe. All you need to do is give us a call on 01202 201480 and we'll talk you through a very simple process. You can also email us on info@climateq.co.uk.

So how would this work?

General description of the measure

This measure will temporarily introduce increased reliefs for expenditure on plant and machinery.

For qualifying expenditures incurred from 1 April 2021 up to and including 31 March 2023, companies can claim in the period of investment:

  • a super-deduction providing allowances of 130% on most new plant and machinery investments that ordinarily qualify for 18% main rate writing down allowances
  • a first year allowance of 50% on most new plant and machinery investments that ordinarily qualify for 6% special rate writing down allowances

The measure also temporarily amends the rules covering expenditure incurred on plant and machinery used partly in a ring fence trade in the oil and gas sector

Policy objective

This measure is designed to stimulate business investment. It does so by increasing the incentive to invest in plant and machinery by offering higher rates of relief than were previously available

Background to the measure

Capital allowances allow businesses to write off the costs of tangible capital assets, such as plant or machinery, against their taxable income. They take the place of commercial depreciation, which is not an allowable tax deduction. First-year allowances allow enhanced rates of relief for certain plant and machinery investments, providing claims are made in the period the expenditure is incurred. The super-deduction is an enhanced first-year allowance providing an allowance exceeding the cost of the asset

There is, of course, more information available on the HMRC website


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