Water Technology List information worth tapping into
June 18th 2004 British industry can benefit from water savings and additional tax relief by investing in products on the Water Technology List, details of which can be found on www.eca-water.gov.uk
The Water Technology List (WTL), developed and managed by Defra and the Inland Revenue, in partnership with Envirowise, offers a real incentive for industry to invest in technologies which use water sustainably.
Companies purchasing products from the Water Technology List, can benefit from significant savings through improved water use. Businesses may also be eligible for an Enhanced Capital Allowance (ECA) enabling them to write off the whole cost of the investment against profits in that year.
Water savings are a key area for all businesses. Envirowise has proven this by demonstrating that through using water efficiently and minimising wastage, businesses can make substantial savings. Envirowise advisors estimate that sites, which have not previously examined their water consumption, can usually achieve around 30% savings on water and effluent bills immediately, by implementing simple water management measures at little or no cost. These savings can exceed 50% when more structured and long-term water savings projects are implemented.
The benefits of improved water sustainability and management in manufacturing are significant. They include:
As well as encouraging a more sustainable use of water, investing in any eligible equipment from the WTL, could also deliver a boost through an additional tax incentive.
Modelled on the Governments Enhanced Capital Allowance (ECA) scheme for approved energy saving products launched in 2001, the WTL allows businesses to write off 100 % of investments in qualifying sustainable technologies and products against tax in the year of investment. For example, if a company paying 30% corporation tax buys eligible equipment worth 1,000, then the tax relief will be worth 300 in the first year. All businesses that pay corporation and income tax in the UK are eligible for the tax allowance.
Manufacturers of the eligible water saving technologies are flooding to the website to apply to have their products considered for inclusion on the WTL. www.eca-water.gov.uk details the categories of qualifying technologies including:
- meters and monitoring equipment
- flow controllers
- leakage detection equipment
- efficient toilets
- efficient taps
Martin Gibson, Programme Director of Envirowise commented on the scheme: Sustainable product development is key to any businesses durability. Manufacturers who have developed products enabling minimization of water use should see a commercial advantage in the future. Registering those products as soon as possible - on the Water Technology List will help ensure that competitive advantage is gained sooner, rather than later.
Environment Minister Elliot Morley at the launch of the WTL said I think the launch of The Water Technology Product List today is a win-win situation for all concerned. Businesses investing in the products detailed on the List win through the reduction to their water bills and the enhanced tax relief, manufacturers and suppliers of the products listed win through the publicity their products will receive and the environment wins because the products promote more sustainable water use.
It is hoped that the potential savings from reduced water consumption and waste-water, and the additional tax relief benefit, will continue to generate a wave of interest from businesses of all sizes and encourage investment in the development of new sustainable water technologies.
To find out more about registering or purchasing products on the WTL, visit www.eca-water.gov.uk or call 0800 585794. More articles from Water Technology List: | 
