BHESCo & EMW STax | Fully funded energy upgrades and capital allowance savings for businesses in Sussex
Brighton & Hove Energy Services Co-op (BHESCo) have partnered with leading tax consultancy EMW STax to bring even greater financial benefits to our energy project customers.
STax specialise in helping commercial property owners maximise their capital tax allowance tax relief. In the last decade, they have unlocked £550 million of savings on behalf of customers, and now the are making their expertise available to BHESCo clients.
Together, we are offering businesses in Sussex an opportunity to secure huge savings on energy costs, reduce their tax liability, lower their impact the environment, all for no upfront cost.
How does it work?
The energy saving and renewable energy improvements that are installed through a BHESCo project can be eligible for Capital Allowance tax relief. This means that our business customers can claim tax relief based upon the value of the energy saving/energy generating systems that are installed. Here’s how it works:
1. Energy upgrade recommendations
BHESCo’s Project Team visits the customer site to conduct a detailed survey of the premises, in addition to an analysis of historic energy bills.
A project proposal is issued to the customer, with costed recommendations and anticipated financial and carbon emissions savings.
2. Capital Allowances review with STax
STax will conduct a thorough review of the purchase of the property, any capital spent on renovations, and the products or systems installed through BHESCo. This ensures that all available tax relief opportunities are identified and maximised, covering every basis for full tax relief entitlement.
3. Energy saving / renewable energy measures installed
BHESCo project manages the installation of selected energy upgrades. This includes installer procurement, asset insurance, grid connection, planning permissions, etc.
Upfront project costs are met by BHESCo’s network of community investors who want to mobilise their money to support solutions to climate change.
Our customer enters into a Hire Purchase Agreement committing to monthly payments to BHESCo for the duration of a determined lease period.
Because payments to BHESCo are lower than the cost of buying electricity from an energy supplier, our customer starts to make savings immediately.
4. Making a Capital Allowance claim through STax
STax will conduct a thorough review of the commercial property, including having a RICS surveyor visit the site to identify items which are eligible for a Capital Allowance tax relief claim. They will prepare a full disclosure report, which is submitted to HMRC as evidence to make a Capital Allowances claim, ensuring all available tax relief is maximised efficiently and compliantly.
What are the benefits to your organisation?
By taking up this offer from two of Brighton’s most innovative businesses, clients can expect to enjoy the following benefits:
- Brand new clean energy technologies for zero upfront cost from BHESCo
- Expert Capital Allowance advice
- Uncovering the full tax relief potential in your property
- Reduced long-term energy costs
- Improved sustainability credentials
- Long-term maintenance and performance monitoring
The property is a five-storey mixed use building that comprises of a commercial office on the ground floor and basement plus residential flats on the upper four floors. The office space benefits from reception area, offices, meeting rooms, storerooms as well as kitchens, toilets and plant rooms.
Purchase Price: £1.5 Million
Purchase Claim: £112,000
Percentage of Capital Allowances: 14%
Costs Incurred: £1.6 Million
Cost Claim: £637,000
Percentage of Capital Allowances: 40%
Total Capital Allowances: £749,000
STax found just under £750,000
How do I get started?
If you are interested in partnering with BHESCo and EMW STax to develop a clean energy project with a capital allowance eligibility then please leave your details below and a member of our Projects Team will get back to you shortly.