Time right for energy boost
Farmers and landowners looking to develop renewable energy projects are being encouraged to benefit from a tenfold increase in the Annual Investment Allowance (AIA).
As of January 1, businesses can get 100 per cent tax relief on investments up to £250,000.
Mark Newton, head of renewable energy at estate agent Fisher German, in Market Harborough, said the temporary two-year measure made it an ideal time to invest in renewable energy projects.
He said: "Using the example of a 50kW endurance turbine which costs in the region of £250,000, the person investing in the project could offset the total cost against their income tax in year one.
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"The net cost of the turbine for a 45 per cent tax payer would now be in the region of £137,500.
"The change would also mean greater returns can be generated from the wind turbine."
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