Tax and Sustainability Within the business community there is an increasing awareness of the need to act with sustainability in mind; in other words to take responsibility for the impact that our actions will have on current and future generations. Graham Doubtfire, Tax Director explains some of the ways that businesses and investors can maximise their tax efficiencies through the use of environmentally-efficient equipment and innovative business practices.
Photograph by Bryan Shaw
But the work doesn’t stop here. The forward-looking vision for Marks Hall is to respect the heritage of the estate while developing a restorative and inspiring landscape that is good for people, plants and wildlife. As general manager, Rebecca Lee notes, “Driving awareness and encouraging visitors is vitally important to support the future of the Marks Hall Charitable Trust.” This summer sees the second Marks Hall Sculpture Exhibition, from 29th July to 10th September and sponsored by Scrutton Bland. The aim is to bring art into the landscape at Marks Hall, with over 300 pieces of work from over 40 different sculptors in a vast range of materials. Laid out as a sculpture trail, the exhibition encourages visitors to view the environment in a new and engaging way, revealing unexpected views and sightlines at the same time as increasing an understanding of the work undertaken by the Trust to protect this special place and ensuring it is enjoyed by generations to come.
Firstly a Charitable Trust was established in 1971, followed by an extensive programme of renovation, clearing and landscaping, aimed at creating an arboretum of national significance, with scientific and educational value. At first the arboretum was only open to ‘persons with a special interest in arboriculture’, but in 1993 Marks Hall opened to the public and is now an exceptional arboretum and gardens, visited by over 40,000 people every year, supported by 900 annual members and an industrious team of over 80 volunteers who ably assist the staff team. Arboretums are often referred to as ‘museums of trees’ and the site at Marks Hall today is an internationally important collection of trees from all temperate areas of the globe. They are mass planted in geographic zones within a heritage landscape, and include rare and unusual species such as the Wollemi Pines from Australasia.
Using green technology If you are working with energy-efficient and/or renewable technology there can be substantial tax benefits for your company. You can claim capital allowances when you buy energy efficient or low or zero-carbon technology for your business. This reduces the amount of tax you pay, and in some cases such as wind turbines or solar heating panels, this could be 100% of the cost of these which could be set against your income. You can claim ‘enhanced capital allowances’ (a type of first year allowances) on your tax return for the following energy and water efficient equipment: • energy saving equipment listed on the HMRC energy technology product list, for example certain motors • water saving equipment (provided that it is on HMRC’s water efficient technologies product list), for example water meters, water-efficient toilets and taps • plant and machinery for gas refuelling stations, which can include storage tanks and pumps • gas, biogas and hydrogen refuelling equipment • Some cars with low CO 2 emissions
Research and Development projects
Tax efficiencies through supporting younger businesses For those looking to help small early stage businesses, then a Seed Enterprise Investment Scheme (or SEIS) may be one option to consider. A SEIS is designed to help small companies raise equity finance by offering tax reliefs to individual investors who purchase new shares in these companies, and who hold those shares for at least three years. The SEIS scheme can offer 50% income tax relief of the cost of the shares to investors, who have the satisfaction of supporting young entrepreneurs who may have been unable to get support from more traditional funding routes such as banks. If you would like to benefit from Scrutton Bland’s tax planning expertise then contact one of our professional advisers for a no-obligation chat. With almost one hundred years of advising businesses across the region, we can
Enhanced Corporation Tax Relief is available to companies if an R&D project “seeks to achieve an advance in overall knowledge or capacity in a field of science or technology through the resolution of scientific or technological uncertainty – and not simply an advance in its own state of knowledge or capability”. If your company and the project both meet the necessary conditions then tax relief can be claimed in your Corporation Tax return. There are specific guidelines which give detailed information on the definitions and processes businesses would need to make a claim.
Photograph by Bryan Shaw, work by Laury Dizengremel, from Marks Hall Sculpture 2015
For more information: www.markshall.org.uk or tel 01376 563796 Scrutton Bland have extensive
experience in advising charities, trusts and not for profit organisations across East Anglia and the South East. We provide audit and accounting provision, insurance and financial advice and aim to provide a joined-up and straightforward approach which saves time and resources for your organisation. Please get in touch on 01473 267000 or 01206 838400 or see www.scruttonbland.co.uk
provide a straightforward and cost effective solution to your tax needs. Call Graham Doubtfire on 01206 838400 or email
graham.doubtfire@ scruttonbland.co.uk
• new zero-emission goods vehicles
Marks Hall mansion
Photograph by Jerry Harpur
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