Alexander & Co provides a wide range of specialist services to businesses in the energy and environmental sectors. With a head office in Manchester, we are located at the centre of the largest low carbon sector in the UK outside of London and the South East, which provides specific expertise in several key sector areas.
Energy & Environmental Accountants
Businesses in this sector we are able to assist are wide-ranging including consulting engineering, financial and legal services and innovation testbed/scientific research laboratories.
Helping your business grow
Our specialist tax team at Alexander & Co assists clients in claiming a wide range of tax reliefs including Research and Development Tax credits, Patent Box and Capital Allowances. We also regularly deal with Business Asset Disposal Relief (formerly known as Entrepreneurs Relief before 6 April 2020) for sole traders and business partners. Supporting new investors and helping existing companies grow is in our DNA. With many innovative businesses recognising the opportunities available to them in this sector, Alexander & Co can assist in maximising your potential in what can be a complex, highly regulated industry.
Whether you are a new business or an established one, our accountants that work with energy and environmental clients can provide you with expert advice at all stages of your business cycle. This includes assisting with finance for development, providing efficiencies in processes and products and advising on growth and expansion.
Services that we frequently provide to businesses in this sector include:
- Audit and assurance
- Business planning and strategy
- Business startups
- Capital Allowances and Enhanced Capital Allowances
- Cash flow modelling
- Corporate finance
- Grant funding
- IR35 off-payroll working
- Research and Development Tax Credits (R&D)
- Project review and profitability analysis
- Securing investment
- Tax-efficient business structuring
Tax reliefs through innovation
Our specialist tax team at Alexander & Co assists clients in claiming a wide range of tax reliefs including Research and Development Tax credits, Patent Box and Capital Allowances. We also regularly deal with Business Asset Disposal Relief (formerly known as Entrepreneurs Relief before 6 April 2020) for sole traders and business partners.
As a capital-intensive industry, there is considerable scope to claim Capital Allowances, providing significant tax savings. With the Annual Investment Allowance temporarily increased to £1,000,000 until December 2020, there is even greater opportunity to reduce your tax burden, with the potential to write down up to 100% for certain purchases within the year of purchase.
R&D tax credits allow qualifying companies to claim back up to a 230% tax deduction on qualifying spending, through any project which seeks to advance a company’s knowledge, improve a service or product, or solve uncertainties in a process.
The Patent Box tax relief enables a lower rate of Corporation Tax of 10% to be applied to profits from companies patented inventions.
What type of R&D project might be eligible?
- Renewable energy. Clean energy R&D tax credits may be available for eligible projects.
- Offshore oil projects. Offshore oil rig R&D tax claims are becoming more common and we can advise on these.
Please get in touch with a member of our tax team to discuss your R&D project, its eligibility and how we can assist you.
IR35 – off-payroll working and its impact on the energy and environment sector
Many of the thousands of jobs supported by the sector are fulfilled by contractors, from skilled labour and project management to offshore engineering. This is especially relevant in the oil and gas industries, especially offshore.
Many of these contractors provide their services through an intermediary, such as a company, a managed service company or an individual. If you employ contractors, you may be liable to pay their tax and national insurance contributions from April 2021 as off-payroll working rules (IR35) are extended.
The complex nature of IR35 and the problems that arise in determining IR35 status are often difficult to interpret. We provide specialist advice and assessment to ensure you are fully prepared and clear of your responsibilities. Read more about how IR35 will impact your business here.
Contacting our team
If you would like any further information about our taxation and accounting services for businesses operating in the energy or environmental sectors, please do get in touch.
Contact a professional now
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