Q - What is the UK Government Doing to Support Water Saving?
A: DEFRA, the body chargeable for water conservation in the UK, tests, identifies and promotes water efficient products.
In the March 2001 Budget report the Chancellor announced increased assist for organisations that invest in environmentally amicable technologies.
Key to this up-to-the-minute policy was the introduction of the Water Technology List.
The Water Technology List was published in 2003 following lengthy consultation between the Department for Environment, Food and Rural Affairs (DEFRA) and HM Revenue & Customs.
The WTL, which is provide on the web (eca-water.
gov.
uk) and updated monthly, describes the products and practices that DEFRA believe will produce a valid affect on water reduction within any organisation.
The list is a statutory document supported by a Treasury Order.
The uk has less water available per fellow than any other EU country, with the irregularity of Belgium and Cyprus.
London is 'drier' than Istanbul and the southeast has less water supply per capita than the Sudan.
By selecting sanitary ware products from the WTL your formation could contribute to potential water savings of up to 50% per annum for your client, according to environmental Agency inspect.
Many organizations can claim a 100% first year tax allowance on products chosen from the Water Technology List.
Q: can a infirmary accrual tax benefits from the enhanced capital allowance scheme? A: probably not, but some healthcare facilities may be convincing to.
Local Authority hospitals are typically not yield making organizations and as a result they are not efficient to claim tax relief under the ECA.
However, hospitals that are run as a Trust and undertake fundraising trading activities may be cogent to advancement tax relief on any profits made.
Similarly, any sanitary that is run as a Charity is explicable for organization tax and may as a result also receive tax relief on any profitable activity.
The tax liability of any altered hospital and it's access to ECA's is beyond the scope of this imperative Specifiers Guide.
It is recommended that any client hoping to advantage from the Enhanced Capital Allowance Scheme consult HM Revenue & Customs.
Q: apart from kept down water bills, are there other monetary incentives for my client? A: yes, many organizations will be rewarded for using WTL products via the tax system.
The Enhanced Capital Allowance (ECA) scheme works in conjunction with the Water Technology List.
A commercial action can claim 100% first year capital allowances on investments in water capable products chosen from the List.
Organizations can write off the complete price tag against the taxable profits of the period in which they make the purchase.
For example, an organization purchases 1000 pounds worth of sanitary ware and fittings from the Water Technology List.
It can then claim a 100% Enhanced Capital Allowance and thereby reduce its taxable yield by 1000 pounds.
cavalier tax on earnings is paid at a 30% rate the organization will pay 300 pound less tax in the period.
In the year of purchase the ECA provides a 30 pounds tax reduction for every 100 pounds spent on approved water saving products and their installation.
* The ECA is effectively a short-term finance flow boost, bringing forward tax relief so that the complete price of a purchase can be set against the profits in the year of purchase.
Any organization that pays UK enterprise tax or profit tax can claim an ECA on the purchase, transport and installation prices of designated water reduction sanitary ware products featured on the Water Technology List.
In the March 2001 Budget report the Chancellor announced increased assist for organisations that invest in environmentally amicable technologies.
Key to this up-to-the-minute policy was the introduction of the Water Technology List.
The Water Technology List was published in 2003 following lengthy consultation between the Department for Environment, Food and Rural Affairs (DEFRA) and HM Revenue & Customs.
The WTL, which is provide on the web (eca-water.
gov.
uk) and updated monthly, describes the products and practices that DEFRA believe will produce a valid affect on water reduction within any organisation.
The list is a statutory document supported by a Treasury Order.
The uk has less water available per fellow than any other EU country, with the irregularity of Belgium and Cyprus.
London is 'drier' than Istanbul and the southeast has less water supply per capita than the Sudan.
By selecting sanitary ware products from the WTL your formation could contribute to potential water savings of up to 50% per annum for your client, according to environmental Agency inspect.
Many organizations can claim a 100% first year tax allowance on products chosen from the Water Technology List.
Q: can a infirmary accrual tax benefits from the enhanced capital allowance scheme? A: probably not, but some healthcare facilities may be convincing to.
Local Authority hospitals are typically not yield making organizations and as a result they are not efficient to claim tax relief under the ECA.
However, hospitals that are run as a Trust and undertake fundraising trading activities may be cogent to advancement tax relief on any profits made.
Similarly, any sanitary that is run as a Charity is explicable for organization tax and may as a result also receive tax relief on any profitable activity.
The tax liability of any altered hospital and it's access to ECA's is beyond the scope of this imperative Specifiers Guide.
It is recommended that any client hoping to advantage from the Enhanced Capital Allowance Scheme consult HM Revenue & Customs.
Q: apart from kept down water bills, are there other monetary incentives for my client? A: yes, many organizations will be rewarded for using WTL products via the tax system.
The Enhanced Capital Allowance (ECA) scheme works in conjunction with the Water Technology List.
A commercial action can claim 100% first year capital allowances on investments in water capable products chosen from the List.
Organizations can write off the complete price tag against the taxable profits of the period in which they make the purchase.
For example, an organization purchases 1000 pounds worth of sanitary ware and fittings from the Water Technology List.
It can then claim a 100% Enhanced Capital Allowance and thereby reduce its taxable yield by 1000 pounds.
cavalier tax on earnings is paid at a 30% rate the organization will pay 300 pound less tax in the period.
In the year of purchase the ECA provides a 30 pounds tax reduction for every 100 pounds spent on approved water saving products and their installation.
* The ECA is effectively a short-term finance flow boost, bringing forward tax relief so that the complete price of a purchase can be set against the profits in the year of purchase.
Any organization that pays UK enterprise tax or profit tax can claim an ECA on the purchase, transport and installation prices of designated water reduction sanitary ware products featured on the Water Technology List.