Businesses in energy-intensive sectors may qualify for substantial tax relief on energy expenditures. You could claim back up to 25% of energy costs through these incentives. So for every for every £100,000 spent on energy, your company could recoup up to up to £25,000 . This incentive helps offset rising energy bills. To receive the relief, firms must meet eligibility rules set by HMRC and BEIS. Your sector has to qualify, and evaluations like analyzing past energy usage will be conducted. Overall, this program offers major savings to help companies in industries with high energy demands combat increasing costs.
The Climate Change Levy (CCL) is a UK initiative that taxes energy supplies to incentivise lower carbon emissions. However, certain energy-intensive industries can qualify for CCL tax relief, mitigating these costs while promoting energy efficiency. The rate of tax relief your business could receive - either 5% or 20% - depends on the type of fuel you use and your specific operational context.
Energy Intensive Industries (EII) Tax Incentive
In a landscape of rising energy costs, UK businesses are increasingly challenged to stay competitive. The government-backed EII Relief scheme offers critical support to high-energy-using industries, levelling the playing field with international competitors facing lower energy costs.
UK Emissions Trading Scheme (ETS)
The UK Emissions Trading Scheme (UK ETS) has been a cornerstone of the UK's policy to combat climate change for over a decade. Aimed at reducing carbon emissions, the scheme can impose significant costs on high-energy-consuming businesses. To balance these costs and ensure that such companies remain competitive, the UK ETS Compensation Scheme has been introduced.
Thanks to the assistance of GetMyFunding, we were able to secure our CCL rebate which has been very timely. All of the staff were extremely knowledgeable and diligent in the entire process.