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    What We Do

    At Accounting for Energy, our vision is to build a mutually beneficial, rewarding marketplace
    for landowners who have renewable energy projects on their land.

    That’s why all our services help to increase transparency in this new and largely unregulated
    industry – while equipping and empowering landowners and the other people we help with
    the insights they need to benefit fully from their renewables projects.

     

     

  • Tag Archives: budget


    Landowners and waste management companies make small wins from Budget

    By Travis Benn – (3 min read)

    Philip Hammond’s budget announcement last week could be described as underwhelming and non-eventful, but with the impending uncertainty of Brexit, he is clearly trying to leave himself some space to tackle whatever changes our EU departure will bring next year. There were some positives which will leave landowners with a few extra pennies in their bank, and a new tax that has been well received by waste management companies.

    Tax

    While there were no changes to the rate of tax, Hammond is fulfilling the Conservative manifesto to raise the personal allowance to £12,500 and the higher taxpayers’ threshold to £50,000 (currently £46,351) in April 2019,  which is one year earlier than planned. This is good news for self-employed farmers as their allowance will increase by £650 which is nearly double the increase we saw at the beginning of this tax year, which we outlined here.

    Landowners will also be able to deduct two per cent of the cost of any new non-residential structures and buildings off their profits before tax.

     

    Staffing

    Landowners with small farms who employ apprentices will see some relief as Hammond promises to halve the apprenticeship levy contributions for smaller businesses from 10 per cent to five per cent.

    On the other hand the National Minimum Wage will increase by five per cent to £8.21 (currently £7.83), which has been described as ‘more than the sector expected’ by the NFU.

    Plastic Packaging Tax

    We have written about developments in plastic reform, and targets that have been set by the Circular Economy Package, and under the Plastic Pact managed by WRAP, and it seems the government is listening to the advice. Hammond says that producers of plastics will be taxed if packaging contains less than 30 per cent of recycled plastics.

    This has received a mixed response in the waste management community, but overall it is seen as a step in the right direction, with the Environmental Services Association’s (ESA) Executive Director, Jacob Hayler, saying it is the ‘most effective way’ to ensure the right incentives are in place for recycling, rather than to penalise Energy from Waste.

    On the waste front Hammond also committed to give £10m to dumped waste, and made a commitment to reform the Packaging Producer Responsibility.

    These commitments have been made against the backdrop of ‘austerity coming to an end’,  which is a step in the right direction, but it is caged in ambiguous and cautious tones. Until there is clarity on what sort of Brexit deal we will get, all of this is subject to change, and if for example we are left with a no-deal EU exit, we could be discussing the terms of a completely new budget next spring.

    For further information, please contact:

    Travis Benn

    Co-Founder

    0203 375 6144

    Share

    The new tax year: how your land rent payments are likely to be affected

    By Travis Benn – (4 min read)

    “End of Tax Year” evokes all sorts of emotions in people – for some, the thought of the paperwork and facing their accounts fills them with dread, while for others it’s a motivating factor to finish on a high or start a new cycle with a fresh sheet. This time of year also has an impact on land rent payments, and there are a number of factors to be aware of to ensure you are getting the best negotiation. In this article we outline three situations that could affect your land rent payments in the coming tax year.

    Firstly, it’s important to understand that payments are calculated using a minimum rent fee which is a flat rate, then there is the turnover rent, which is based on energy output and activity.

    Inflation

    It’s expected that inflation will go up at some point in the year which will mean rent payments are likely to be static. The normal expectation is that rent payments go up by about five percent with inflation, but if there is an increase, the most likely scenario is that payments will freeze, and for those who do see an increase, it’ll only be by a percent or two. This is because the minimum rent payment is linked to inflation and increases at a slower rate when interest rates rise, and turnover rent is affected by energy prices which would go down, so the money being made from the energy source would be less.

    Brexit

    Brexit could actually have a positive effect on both rent payments, especially if we get a hard Brexit. As the value of the pound decreases and the price of imports increase, the cost of electricity will see a hike, as will the cost of living which will in turn affect inflation and minimum rents.

    We currently import electricity from the Internal Energy Market and once our relationship with the EU changes, this may need to be renegotiated. We could find ourselves in a position where there is more demand in the UK for wind energy and electricity, which will increase turnover rents

    The Budget

    Based on the 2017 Autumn Budget announcement farmers will keep more of their money in the new tax year. The Personal Allowance will go up by £350, while the basic rate of income tax goes up by £1,000 to £34,500. In addition, self-employed workers who pay Class Four National Insurance will be able to keep £1,350 more of their money before falling into the higher earnings threshold.

    Here’s an example of how the budget might affect farmers:

    Scenario One

    A farmer whose wind farm produces £11,850* will get an extra £88.20**:

    – This year they keep £11,300.06.
    – Next year they keep £11,388.26.

    Scenario Two

    A farmer whose wind farm produces £46,350* will get an extra £263.70**:

    – This year they keep £35,619.50.
    – Next year they keep £35,883.26.

    It’s hard to assess what these factors combined will mean for land owners, but given that rent payments increase annually, landowners will be affected in some way at different times. Ensuring you are receiving accurate returns from your renewables investment can be a challenge as it is – we identify underpayments in 75% of our royal audit reviews – and this coupled with the any of the above factors can add another level of inaccuracy. If your rent payments contracts are due for review soon it’s worth considering whether you can renegotiate a better deal.

    * Assumes no other income. Applies to those who are self-employed but not in receipt of married or blind persons allowance.
    ** These figures are estimates.

    For further information, please contact:

    Travis Benn

    Co-Founder

    0203 375 6144

    Share
  • Testimonials

    • “We found your report informative and easy to read, it was good to see how the wind farm is performing
      and we were pleased with the results of the audit”

       

      Mark Charles,

      Exeter

      Share
    • Sara James,

      Durham

      Share
    • Martin Roberts,

      Peterborough

      Share
    • Tracy Maria,

      Cumbria

      Share
    • David Terrence,

      Devon

      Share
    • “In every instance Accounting for Energy have identified and recovered shortfalls in rent for my clients. Not only do the landowners receive back payments but they are also keen to show developers that they are being held to account.”

       

      Chris Thyer MRICS FAAV

      Land Agent, GSC Grays

      Share
    • “We don’t have comparable leases in renewable energy meaning there are few examples to draw from, so it’s always good to have checks and balances in place. We would recommend Accounting for Energy for their diligence.”

       

      Ali Walker

      Property Co-ordinator, Bath and Wells Diocese, Church of England

      Share
    • “The information provided by the turbine owner seemed to be comprehensive. The issue comes with knowing if all the data is complete and the audit was able to identify areas that we should have been receiving royalties on.”

       

      Ben Ardern

      Financial Controller, Dewlay Cheesemakers

      Share
    • “I worked with Travis on a set of arbitral proceedings to recover unpaid royalties on behalf of the landowners of a large renewable energy site. I was very inspired by his passion for his industry and his tireless commitment to getting the best results.”

       

      Sarah Bishop,

      Commercial Disputes Solicitor

      Share
    • “Travis is the go-to person for renewable energy landowner royalty payments. He gets into the details of a case, and is very tenacious in identifying and recovering any monies owed to landowners.”

       

      Grant Jones,

      Chartered accountant, solicitor and practicing arbitrator

      Share
    • “I would recommend Accounting for Energy because they are clearly experts in this area, and they were good to work with. It was an easy
      decision to get them on board because we really didn’t have the expertise or the time to be trawling through the lease and power purchase agreement.”

       

      Nick Kenyon,

      CEO, Dewlay Cheesemakers

      Share
  •  

    Before Accounting for Energy, Freccia was a successful entrepreneur in the healthcare space. When Travis told her about the challenges in the renewables sector, she was convinced that they could use their combined expertise to help landowners.

    Fuelled by her passion for business and making a difference to landowners, Freccia then developed her ideas for Accounting for Energy’s services, strategy and pricing in a way that would best serve their clients.

    She is now responsible for all the business’ operational activities and client services, and her passion for helping landowners in the UK continues to drive her work.

     

     

    “With the threat of climate change to our planet looming, my mission is to develop a business that helps build the infrastructure of the renewable energy market. I also want to make sure those who are invested in it receive fair returns. As this is still a new industry, we are able to help to avoid the pitfalls of other more established industries and by doing so, help the wider green economy.”

     

    Freccia Benn
    Co-Founder

     

    0203 876 0324

     

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  • Our Clients

    Our Clients

    • “We found your report informative and easy to read, it was good to see how the wind farm is performing
      and we were pleased with the results of the audit”

       

      Mark Charles,

      Exeter

    • “Job well done”

       

      Sara James,

      Durham

    • “Early non-payment discovered so very happy with outcome”

       

      Martin Roberts,

      Peterborough

    • “Excellent service. The review has given me peace of mind”

       

      Tracy Maria,

      Cumbria

    • “We found the report very thorough and really interesting and were pleased
      that the payments have been corrected and appreciate your help with this very much”

       

      David Terrence,

      Devon

    • “In every instance Accounting for Energy have identified and recovered shortfalls in rent for my clients. Not only do the landowners receive back payments but they are also keen to show developers that they are being held to account.”

       

      Chris Thyer MRICS FAAV

      Land Agent, GSC Grays

    • “We don’t have comparable leases in renewable energy meaning there are few examples to draw from, so it’s always good to have checks and balances in place. We would recommend Accounting for Energy for their diligence.”

       

      Ali Walker

      Property Co-ordinator, Bath and Wells Diocese, Church of England

    • “The information provided by the turbine owner seemed to be comprehensive. The issue comes with knowing if all the data is complete and the audit was able to identify areas that we should have been receiving royalties on.”

       

      Ben Ardern

      Financial Controller, Dewlay Cheesemakers

    • “I worked with Travis on a set of arbitral proceedings to recover unpaid royalties on behalf of the landowners of a large renewable energy site. I was very inspired by his passion for his industry and his tireless commitment to getting the best results.”

       

      Sarah Bishop,

      Commercial Disputes Solicitor

    • “Travis is the go-to person for renewable energy landowner royalty payments. He gets into the details of a case, and is very tenacious in identifying and recovering any monies owed to landowners.”

       

      Grant Jones,

      Chartered accountant, solicitor and practising arbitrator

    • ““I would recommend Accounting for Energy because they are clearly experts in this area, and they were good to work with. It was an easy
      decision to get them on board because we really didn’t have the expertise or the time to be trawling through the lease and power purchase agreement.”

       

      Nick Kenyon,

      CEO, Dewlay Cheesemakers


  • Testimonial with bg

    • “We found your report informative and easy to read, it was good to see how the wind farm is performing
      and we were pleased with the results of the audit”

       

      Mark Charles,

      Exeter

      Share
    • Sara James,

      Durham

      Share
    • Martin Roberts,

      Peterborough

      Share
    • Tracy Maria,

      Cumbria

      Share
    • David Terrence,

      Devon

      Share
    • “In every instance Accounting for Energy have identified and recovered shortfalls in rent for my clients. Not only do the landowners receive back payments but they are also keen to show developers that they are being held to account.”

       

      Chris Thyer MRICS FAAV

      Land Agent, GSC Grays

      Share
    • “We don’t have comparable leases in renewable energy meaning there are few examples to draw from, so it’s always good to have checks and balances in place. We would recommend Accounting for Energy for their diligence.”

       

      Ali Walker

      Property Co-ordinator, Bath and Wells Diocese, Church of England

      Share
    • “The information provided by the turbine owner seemed to be comprehensive. The issue comes with knowing if all the data is complete and the audit was able to identify areas that we should have been receiving royalties on.”

       

      Ben Ardern

      Financial Controller, Dewlay Cheesemakers

      Share
    • “I worked with Travis on a set of arbitral proceedings to recover unpaid royalties on behalf of the landowners of a large renewable energy site. I was very inspired by his passion for his industry and his tireless commitment to getting the best results.”

       

      Sarah Bishop,

      Commercial Disputes Solicitor

      Share
    • “Travis is the go-to person for renewable energy landowner royalty payments. He gets into the details of a case, and is very tenacious in identifying and recovering any monies owed to landowners.”

       

      Grant Jones,

      Chartered accountant, solicitor and practicing arbitrator

      Share
    • “I would recommend Accounting for Energy because they are clearly experts in this area, and they were good to work with. It was an easy
      decision to get them on board because we really didn’t have the expertise or the time to be trawling through the lease and power purchase agreement.”

       

      Nick Kenyon,

      CEO, Dewlay Cheesemakers

      Share

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