Are escalating energy costs threatening the profitability of your UK business
08 Aug 2024
Published in: Member News
Range of government schemes designed to help energy-intensive companies reduce costs
Are escalating energy costs threatening the profitability of your UK business
As an energy-intensive industry, you understand the immense burden of rising electricity, gas, and non-commodity charges.
But did you know that the government offers a range of schemes and incentives designed to help companies like yours reduce these expenses and stay globally competitive?
ENERGY INTENSIVE INDUSTRIES (EII) SCHEME
This programme aims to mitigate the impact of carbon reduction policies by exempting eligible businesses from certain energy-related taxes, which can save them up to 25% per year on electricity costs.
CLIMATE CHANGE LEVY (CCL) EXEMPTIONS
The CCL is an environmental tax on energy usage, but companies meeting specific criteria can qualify for exemptions, reducing this financial burden. Savings of 4-7% per year on full energy costs and, if not claimed previously, a cash injection of 20-25% annual energy spend the first year.
Do You Think Your Business Qualifies?
Your UK business must work within a qualifying industry to be eligible for these schemes. And for the Energy Intensive Industry (EII) scheme, you must demonstrate that energy costs have a high impact on your profits.
Examples of Qualifying Industries
Metals productionGlass and ceramicsConstruction materialsWood and paperChemicals and fertilisersPetroleum refiningSemiconductors and batteries
And many more!
Sedulo brings extensive expertise as a business advisory firm and accountancy practice, specialising in various energy-intensive sectors.
This will help us deliver customised solutions that meet your specific needs.
Our Energy Tax Specialists Are Here To Help!
We can guide you through the complex landscape of energy-related government support.
Contact Our Tax Specialists:
Catherine.mckenna@sedulo.co.uk
Jordan.swinney@sedulo.co.uk
To find out more, visit sedulo.co.uk
Submitted by Jordan from Sedulo
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