PBR: Brown in green technology push
The government is considering introducing enhanced capital allowances to boost the use of green technology among UK businesses.
As part of the package of measures announced in today’s pre-Budget report, chancellor Gordon Brown said the allowances would be available in three areas: energy-saving, cleaner fuels and vehicles and improving water use and water quality.
The Treasury published a consultation document in July seeking views on which environmental objectives could be supported by tax relief on investments.
Since then businesses have been able to set aside the whole of their expenditure on certain energy-saving equipment against taxable profits