Commercial projects & Super Tax deductions

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10th Aug 2022

Did you know the super tax scheme runs out in March 2023?

As commercial projects typically take 6–8 months to complete, if you want to make the most of this incentive, you need to take advantage sooner rather than later.

A recap on super tax

The super tax, also known as the super deduction, enables companies to claim 130% capital allowances for capital expenditure incurred – on qualifying plant and machinery investments.

So, under the super deduction, for every pound you invest, your taxes are cut by up to

25p. For example, if you purchase a new £10,000 van, you’ll receive £2,470 of tax relief after 1st April. Previously this would have been £1,900 tax relief.

What is classed as plant and machinery?

For claiming capital allowances, most tangible capital assets used for business purposes are considered plant and machinery. This includes:

• Solar panels
• Computer equipment and servers
• Tractors, lorries, vans
• Ladders, drills, cranes
• Office chairs and desks
• Electric vehicle charge points
• Refrigeration units

If you’re considering making any large capital purchases, now would be a great time to take advantage of this super deduction. And if you’re not thinking about it, then it may be a good time to start!

Why solar panels make more sense than ever

Choosing to make the most of the super deduction is a savvy move, and if you’ve ever considered making your business more profitable and economic with solar panels, investing now could save you more money than ever.

As well as reducing your carbon footprint and increasing your corporate social responsibility, investing in solar panels – or indeed battery storage or EV chargers – in the current climate of volatile and escalating energy market costs, is a guaranteed way to take control of rising energy prices. Doing it right now – before the super tax offer ends – guarantees more profitability.

The benefits of solar for business

Reduce overheads

Significantly reduce overheads and increase your bottom line with up to 100% savings on daytime electricity costs.

Independence

Reduce on-site grid energy usage and reliance on the National Grid.

Energy security

Pre-purchase energy today at a fixed unit cost and protect your business against future increases in utility prices and power outages.

Battery storage from TLGEC

TLGEC has been at the forefront of commercial battery storage since installing the first in the country. We’re proud to work closely with Tesla, helping them to “accelerate the world’s transition to sustainable energy.”

With Tesla Powerwall, the same groundbreaking Tesla battery technology that has revolutionised the electric car market is now available to power your home.

Powerwall enables you to store clean solar energy for use round-the-clock and incorporates all the smart technology you’d expect from Tesla.

Powerwall can be installed alongside any new or existing Solar PV installation or on its own.

• Clean solar power round-the-clock
• Sell electricity back to the grid at peak prices
• Extremely cost-effective
• Protection for power cuts
• Peace of mind with a 10-year guarantee
• Flexible installation

Why TLGEC makes all the difference

When undertaking a project as important as installing solar panels or battery storage, it’s important to work with a renewable energy partner you can trust and fully rely on.

At TLGEC, we have been helping businesses achieve their solar PV goals using a wide range of the most advanced and efficient technologies. It would be our pleasure to advise you on the best options to meet your preferences and needs. We can also take you through the solar financing options we have available.

To find out more about how TLGEC can help you with solar PV and battery storage within the super tax period, get in touch today.