UK tax change will hit energy distributors first, end-customers likely to follow
UK Chancellor George Osborne has just revealed plans to implement a significant change in tax rules, designed specifically to prevent businesses claiming capital allowances for costs met by other firms, a news report reveals, with gas and electricity distributors being directly affected.
The draft legislation will be included in the current Finance Bill and has been drawn up in order to prevent companies from making new claims for historic costs that have already been paid by their business customers.
Apparently, this is quite a serious issues, and the HMRC estimates that the claims could have resulted in up to £900m in lost taxes. The Treasury says that utility companies have claimed £50m in capital allowances since January, using a very complex legal argument to claim what is a legitimate tax allowance designed to help the economy.
Unfortunately, since in most situations, additional costs incurred by energy suppliers are immediately carried over to the customers’ bills, this move by the UK government might actually translate into a further increase of utility bills for households and companies alike.
For this reason, if you’re already considering implementing a solution that will allow you to save on your energy bills, then this is the right time to act, and HeatingSave is the best solution for this job, given the fact that it enables users to save up to 20 to 30 percent on their gas and electricity bills.
What really makes HeatingSave stand out from the crowd is the fact that it grants energy managers an extensive level of control over the building’s heating patterns, meaning that heating will not be on during weekends or holidays unless the building is actually in use. Additionally, the system also enables automatic occupancy detection allowing the temperature to be reduced to a background when areas are not used and quickly brought up to temperature when they are being used.
It’s also very important to mention that HeatingSave can take an automatic decision on whether to use electricity or gas for heating during summer, and also enables users to set a night setback temperature, reducing the night heating by a few degrees to still keep 24/7 operations warm whilst saving energy and money.
If you’re already interested in what HeatingSave has in store and you’d like to find out more on the matter, just get in touch, our dedicated product team will be more than happy to answer all of your questions and queries.