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ETL

MEMU LISTED ON ENERGY TECHNOLOGY LIST (ETL)

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The MEMU has now been accepted onto the Energy Technology List. This is the UK version of the EEE Register for Ireland.

The Energy Technology List (ETL or Energy Technology Product List, ETPL) is managed by Carbon Trust on behalf of the UK government. It provides information on products that qualify for the government’s Enhanced Capital Allowance (ECA) tax scheme for businesses. The scheme allows businesses to write off the entire cost of any product included on the list against taxable profits.

See the MEMU listed here.

Enhanced Capital Allowance (ECA) scheme

The ECA scheme means that a business can invest in energy-saving plant or machinery that might otherwise be too expensive.

The first year allowances let businesses set 100% of the cost of the assets against taxable profits in a single tax year. This means the company can write off the cost of the new plant or machinery against the business’s taxable profits in the financial year the purchase was made.

An ECA is claimed through a business’s income or corporation tax return in the same way as any other capital allowance. HM Revenue and Customs is responsible for the tax-related aspects of the ECA scheme.

Reference: www.gov.uk

For more information about the MEMU, ETL or the ECA scheme, email info@eeco2.com or call +44 (0) 1625 660717.

For more information on EECO2’s energy management solutions, click here.

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