The Accelerated Capital Allowances (ACAs) scheme has been extended for a further three years, to January 2018.
- The ACAs are a tax incentive scheme, not a grant.
- The scheme is designed to lower energy costs through the use of new equipment, while also producing a lower tax bill.
- It allows companies to purchase highly energy efficient equipment from the categories below.
- Specifically for companies who pay corporation tax (tax on profits).
- Deduct 100% of eligible equipment before profits are taxed in the first year. This is normally spread over 8 years for non-eligible equipment.
An example
Eligible equipment list
- Process and Heating, ventilation and air-conditioning systems
- Heating and Electricity Provision
- Motors and Drives
- Refrigeration and cooling systems
- Building Energy Management Systems
- Electro-mechanical systems
- Information and communications technology
- Lighting
- Electrical and Alternative Fuel vehicles
- Catering and hospitality equipment
View eligible equipment list »
Steps in claiming an ACA
- Check that product is on the SEAI eligible equipment list »
- Procure equipment as normal.
- Ask supplier to record product details as per list on the invoice.
- Claim allowance on annual tax return form.
Additional facts
- In December 2014 a further 1,500 products were added to the list of eligible equipment.
- It is estimated that 85% of a company’s equipment needs can be sourced through the ACA, via the 12,200 eligible products.
- The ACA Scheme is regularly reviewed to ensure only ‘best-in-class’ products are qualified to assist in reducing energy costs.
- For full details, see seai.ie/aca »