Climate change levy exemption for carbon fibre users
13 Apr 2017
This valuable scheme allows companies using carbon fibre to obtain a discount from the Climate Change Levy (see here), which is a tax on site utility bills, if your site energy costs are more than £50k per annum you could enjoy a considerable saving.
All areas of carbon fibre usage qualify, including intermediate ‘pre-preg’ & woven products and moulded/ pressed carbon fibre components.
NB - An additional energy tax reduction will result if your site (or your group) use more than 6MkWhpa of electricity, and have a tax burden under the CRC Energy Efficiency Scheme.
The MIA are indebted to Brian O’Rourke, Chief Composites Engineer at Williams F1 who, on behalf of the MIA, kindly attends the UK Composites Leadership Forum and their Technology Working Group to keep our sector represented and alerts fellow MIA members to any relevant developments form time to time.