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Food and Drink: Government publishes revised list for qualifying technologies for enhanced capital allowances

    • Food and drink

    05-08-2013

    Food and drink businesses that are investing in clean energy to power their businesses should note that the UK Government has published the revised lists of qualifying technologies for the purposes of enhanced capital allowances for energy-saving plant and machinery.

    Enhanced capital allowances offer a 100% first year allowance for tax purposes on certain investments in qualifying plant and machinery, enabling food and drink businesses incurring such expenditure to write off 100% of the cost of such investment against taxable profits in the year of purchase.

    If an investment in clean energy technology potentially qualifies for enhanced capital allowances, it is vital to ensure such investment is structured to obtain such benefit, particularly as any unused allowances can be carried forward to profits in subsequent years in certain circumstances.

    Click here GOV.UK: Eligibility criteria for technologies that qualify for the Energy-saving Enhanced Capital Allowance Scheme to see the eligibility criteria for technologies that qualify for the Energy-saving Enhanced Capital Allowance Scheme.