Reduce your energy costs and also your tax bill ?
The Accelerated Capital Allowance (ACA) is a tax incentive scheme that promotes investment in energy efficient products & equipment.
The ACA scheme is based on the long-standing ‘Wear and Tear Allowance’ for investment in capital plant and machinery, whereby capital depreciation can be compensated through a reduction in an organisation’s tax liability.
The ACA scheme allows a sole trader, farmer or company that pays income tax or corporation tax in Ireland to deduct the full cost of the equipment from their profits in the year of purchase.
As a result, the reduction in tax paid by the organisation in that year is currently 12.5% of the value of capital expenditure. By contrast, the Wear and Tear Allowance provides the same tax reduction, but this is spread evenly over an eight-year period.
Check the link below to bring you to a register for list of qualifying accelerated capital allowance products
https://triplee.seai.ie/AcaProducts/Search.aspx
Subject to qualifying conditions
Any queries on the above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie