Energy Saving Equipment – Tax Relief
Energy Saving Equipment – Tax relief
Tax relief is given by means of an accelerated capital allowance
Accelerated Capital Allowance (ACA) is a tax incentive encouraging investment in energy saving technology.
The ACA is based on a long-standing approach for the treatment of capital allowances for plant and machinery, whereby wear and tear can be taken into account as a deduction for tax purposes.
The ACA scheme allows a company or sole trader to write down the cost of Triple E listed equipment in the year of purchase, rather than over the eight-year period that is standard for plant and machinery capital allowances.
This provides an incentive for companies and sole-traders to choose a qualifying energy efficient option when purchasing equipment.
This applies to any energy efficient equipment such as lighting, electric motors, air conditioners as specified by Revenue
This can also includes electrical motor vechicles
Subject to qualifying conditions
Any queries on same give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie