While Covid has coursed major problems in our personal and business lives, there have been some good outcomes. One of these was for the government to introduce a super deduction on solar panel and electric vehicle charging systems. For businesses looking to invest in solar panel and/or EV systems, it could not be a better time.
Solar panel technology is now at the lowest price it’s ever been ever, and probably the lowest it will be, certainly for a while. Despite this, technology has been growing and growing. Paybacks and returns are fantastic for solar PV, and now companies can claim up to 130% of their Capital Allowances back from the Government, for these qualifying investments.
Under the scheme, for every pound invested, the company can save up to 25p on taxes. This kind of saving is hoped to be a win-win, as companies save whilst improving their business. If you are looking at installing solar PV or EVC (electric vehicle charging), now is probably better than ever.
If you want to look into this more, please contact us. Business Supermarket can give you a proposal for a solar PV system, EVC or both combined. The next step would be to speak to your accountant about the super deduction the government has put in place.
If you would like more details, then please get in touch: