Energy: Tax Allowances

Treasury written question – answered on 9th September 2019.

Alert me about debates like this

Photo of Rupa Huq Rupa Huq Labour, Ealing Central and Acton

To ask the Chancellor of the Exchequer, what assessment the Government has made of the potential merits of reinstating tax relief for investors in community energy schemes.

Photo of Jesse Norman Jesse Norman Financial Secretary to the Treasury and Paymaster General

The venture capital tax reliefs are intended to incentivise investment in higher risk companies who struggle to access finance. Energy generation was excluded from these schemes in 2016 in response to evidence of such investments being used for tax planning purposes. The Government has no current plans to reinstate eligibility for community energy schemes.

The Government offers other forms of support to community energy projects, including through five new regional Local Energy Hubs, the new Smart Export Guarantee and the £10m Rural Community Energy Fund.

Does this answer the above question?

Yes0 people think so

No1 person thinks not

Would you like to ask a question like this yourself? Use our Freedom of Information site.