Installation Grants & Tax Incentives
Accelerated Capital Allowance (ACA) for Businesses
The Accelerated Capital Allowance (ACA) is a tax incentive scheme that promotes investment in energy efficient products & equipment such as EV / PHEV chargers.
Eligibility for ACA:
The ACA tax incentive is available to companies, sole-traders & farmers that operate and pay corporation tax in Ireland.
Equipment Use:
The equipment purchased must be energy efficient & purchased new. It cannot be leased, let or hired to any person.
Time Period:
ACA can be claimed for the accounting period in which the equipment was first provided,as long as the equipment is included in the published list at some stage during that accounting period. When a business invests in eligible energy efficient equipment, they can then deduct the entire cost of the installation from their profits in the same year i.e. their taxable profit in that year is reduced by the entire cost of the equipment.
How to claim the ACA tax incentive?
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Decide on the equipment you require.
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Ensure the equipment model is eligible for ACA by checking the Triple E product register before making the purchase.
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Claim the ACA through your company's return of income form (CT1). There is now a field for ACA on the form alongside the standard capital allowances entry field.
Rules of Qualifications:
The ACA Tax incentive is subject to the same rules as the standard plant and machinery wear & tear allowance.
The difference is the acceleration to 100% of capital expenditure during the 1st year of it's purchase. You don't need approval for expenditure on energy efficient equipment; normal self assessment tax provisions apply.
SEAI EV Home Charger Grant
The SEAI are offering a €300 grant towards the installation of a home EV charger.
Applicant Eligibility Criteria:
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Your EV must be parked in off-street parking associated with the house & the charge-point must be connected back to the fuse-board of the house.
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Your metre point reference number (MPRN) will be used to confirm your address.
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The property can not have availed of a previous home charge-point scheme.
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DO NOT COMMENCE any work prior to receiving your Letter of Offer, otherwise you will not be reimbursed for the installation.
Vehicle Eligibility Criteria:
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Vehicles registered new or used in 2018 are eligible.
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Only vehicles which are now or were previously eligible for grant support under the EV grant scheme are eligible.
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EV's include Battery Electric Vehicles (BEV's) & Plug In Hybrid Electric Vehicles (PHEV's).
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Vehicles which are purchased new in Ireland / second hand in Ireland, or privately imported new or second hand & registered in Ireland in 2018 are eligible.
Application Process:
1. You can apply in a variety of ways; via email to the SEAI EV grants scheme, filling in a hard copy of the form at your nearest EV dealership, or simply apply online on the SEAI website.
2. Once approved you will receive your Letter of Offer & you will have 6 months to complete the installation. Work can only be completed by a fully qualified electrician who is registered with Safe Electric.
3. Once the installation is complete, you should complete the Payment Request Form. This is completed by you & the installer. You installer must provide you with a copy of the Certificate Number 3. Review this & ensure it is correct.
4. Post your Payment Request Form along with the following items to the address indicated on the form;
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Fully signed & completed Request Form including Bank A/C details
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Certificate Number 3
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Vehicle registration form (Not required for a new car purchased in Ireland)
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Photos of the installed charge-point & the EV showing vehicle registration.
5. Your electrician must also send a copy of the Certificate Number 3 to Safe Electric Ireland. SEAI will then check that the Cert arrived & that the electrician is properly registered. Once this is confirmed, the SEAI will issue a payment of the grant amount to the bank details provided by you.
OLEV Grant for E.V. Chargers - Northern Ireland
This is a Government Grand for EV's, funded by the Office for Low Emission Vehicles (OLEV). It is a 75% contribution towards the total cost of installation up to a maximum of £500 (incl. VAT).
Is my EV suitable for the OLEV grant?
The OLEV grant is suitable for use with the majority of EV's & PHEV's. Limited to: 1 charge-point per eligible vehicle & up to 2 per household. If you have purchased an EV or PHEV from April 1st 2015, you may be eligible for this grant. You must have off-street parking & you must use an OLEV approved installer (like us!). To find out if your vehicle is eligible, take a look at the GOV.UK website.
How can I apply for the OLEV grant?
In order to claim up to £500 off the cost of installing your home EV charger, all you need to do is choose us as your registered installer, provide us with the necessary documentation & our expert team will take care of everything else.