Environmental investment hampered by tax system

Environmental investment hampered by tax system

Brewery FD hits out at tax system which he believes is holding back green industrial investment

The UK’s tax system does not support environmental industrial investment,
claims Stephen Pugh, finance director of Adnams brewery.

Pugh wrote in a letter to the
Financial
Times
: “Those who pay extra to construct buildings that use less energy
will receive no allowances.”

He added tax authorities told Adnams they would not receive a tax relief for
buildings which needed no artificial cooling systems – even though they use less
energy.

However, the traditional style buildings, which need cooling and heating
equipment, were able to claim a tax relief.

Pugh is calling on the political parties to address the situation in order to
encourage industrial investment.

Further reading:

Greater
taxes on carbon needed, warns parliamentary committee

France
and Italy call for international carbon tax

KPMG
warns FDs that carbon law will hit bottom line

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource