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Tax breaks for water saving
Water efficiency has progressively become more important. If you are planning to install any water-efficient equipment in your premises, it could be worth your while looking at www.eca-water.gov.uk which will tell you whether you may be able to get tax relief on your expenditure.
The website has been produced by the Department for Environment, Food and Rural Affairs (Defra) and HM Revenue and Customs, to provide information about the Enhanced Capital Allowance Scheme for Water Technologies.
The Enhanced Capital Allowance Scheme enables businesses to claim 100% first year capital allowances on investments in technologies and products that encourage sustainable water use. Businesses are now able to write off the whole cost of their investment against their taxable profits of the period during which they make the investment.
Enhanced Capital Allowances are designed to encourage businesses to invest in water saving technologies such as:
· Water efficient showers, taps, and toilets
· Industrial washing machines
· Flow controllers
· Leakage detection equipment
· Meters and monitoring equipment
· Rainwater harvesting
· Small scale slurry and sludge de-watering equipment
The number of products on their lists is increasing, so why not take a look?
