With the biomass boiler type of heating, which has recently been added to the approved equipment list for the Enhanced Capital Allowance (ECA) scheme, Wood Waste Technology says there has never been a better time to invest in one of its revolutionary, new automated biomass water boilers.
The ECA Scheme is part of the Government’s programme to encourage companies to buy energy-efficient equipment and manage climate change. It provides businesses with enhanced tax relief for any equipment purchases that meet published energy-saving criteria.
As the Wood Waste Technology WW199 boiler gained an efficiency rating of 92.4%, businesses could be able to claim a 100% first year capital allowance on this purchase against the taxable profits of the period of investment.
Kurt Cockroft, MD at Wood Waste Technology, says: “The ECA scheme could be a great way for a business to improve its cash flow through accelerated tax relief.
“For example, it might allow a business to write off the whole cost of a biomass boiler against taxable profits in the year of purchase, as opposed to writing down the plant over five years, potentially lowering the amount of tax owed in that year compared to what would be due under the general capital allowance rules. “
More and more businesses are starting to realise the financial benefits of investing in biomass technology, due to the huge savings that can be made on waste disposal and heating costs, so it is no surprise that sales of Wood Waste Technology’s new automated water boilers are going strong.
Offering a high quality, easy-to-use system at a competitive price, with three different heating solutions – space heating to factory areas, traditional radiator heating for offices and domestic hot water – the boiler is opening up the market for smaller companies, as well as larger corporations, to benefit from renewable energy hot water solutions.