Is this the answer to rising energy costs

[Markduc]

6 minutes ago, Ham_N_Eggs said:

Battery storage really isn't worth the price you pay. It has a short lifetime and a long payback period. Your better of dumping excess energy into a hot water tank/ buffer tank. A fraction of the price for a much greater return.

We would be better off kicking the snake oil into touch and waiting for reliable technology that would support 21st century life styles 

I noticed that no one has figured in the cost of scrapping solar panels 

[The Phantom]

1 hour ago, Markduc said:

But you still wouldn’t be off grid , a power wall only supplies 5kwh at most 

assuming it’s fully charged so don’t boil the kettle when your cooking Sunday lunch 

 

Well I'll defer to your technological know how.

As I've said just based on chatting to the neighbour. He's a full nerd who runs his own Software Co who's done his research. I'll let you know how it's working out for him in a few months.

[Ham_N_Eggs]

1 hour ago, Markduc said:

We would be better off kicking the snake oil into touch and waiting for reliable technology that would support 21st century life styles 

I noticed that no one has figured in the cost of scrapping solar panels 

They are made of aluminium, glass, and silicon. Glass and silicon is ground up to make building aggregate and the frame is recycled. So the cost is negligible.

[The Phantom]

Well if this isn't a case for getting an electric car, then I don't know what is!! 

https://www.dailymail.co.uk/news/article-11209019/Power-outage-forces-surgeon-perform-VASECTOMY-energy-siphoned-electric-truck.html

Those Rivian Trucks are supposed to be pretty good actually.  

[mad_manx]

10 hours ago, The Phantom said:

Well if this isn't a case for getting an electric car, then I don't know what is!! 

https://www.dailymail.co.uk/news/article-11209019/Power-outage-forces-surgeon-perform-VASECTOMY-energy-siphoned-electric-truck.html

Those Rivian Trucks are supposed to be pretty good actually.  

New models hyundai ( ioniq 5 ) and Kia ( EV6) can gives loads of power when needed. V2L  220V and 3.6Kw ..

Mate of mine even uses it to power electric grill / kettle etc when out camping .

[quilp]

On 9/12/2022 at 7:26 PM, quilp said:

A friend's just told me his wife returned from work to say that her company, a local financial house, has donated £1000 to every employee to help with energy costs.

Way to go... 

Conister now commits to supporting its employees in meeting their energy costs...

https://www.three.fm/news/isle-of-man-news/conister-bank-to-give-every-employee-an-extra-200-per-month-this-winter/

Good on them.

Be interesting to see which other businesses replicate the gesture.

[Cambon]

1 hour ago, quilp said:

Conister now commits to supporting its employees in meeting their energy costs...

https://www.three.fm/news/isle-of-man-news/conister-bank-to-give-every-employee-an-extra-200-per-month-this-winter/

Good on them.

Be interesting to see which other businesses replicate the gesture.

Yes, good on them. It will not cost them anything as the amounts paid out will be a tax write off. The government will not lose as the people receiving it will have to pay tax and NI on it. Win, win situation. 

[Asthehills]

33 minutes ago, Cambon said:

Yes, good on them. It will not cost them anything as the amounts paid out will be a tax write off. The government will not lose as the people receiving it will have to pay tax and NI on it. Win, win situation. 

That’s a bit of a nonsense because people might read your post and assume their own employer is right for not magicking up a few hundred extra for every employee.

Not every employer is in a position to do that whether it’s a tax write off or not.

Conister might as well just take it out of their marketing and PR budget as that is basically what it is.

Edited September 15, 2022 by Asthehills

[quilp]

2 minutes ago, Asthehills said:

That’s a bit of a nonsense because people might read your post and assume their own employer is right for not magicking up a few hundred extra for every employee.

Not every employer is in a position to do that whether it’s a tax write off or not.

Conister might as well just take it out of their marketing and PR budget as that is basically what it is.

How is it nonsense if it's fact? No, not every employer will be in a position to offer subsidy, those that can, hopefully will. It's no one's business from where Conister draw the money either, the fact is, they are.

Of course, there'll be those that can but won't. 

[Gladys]

On 9/15/2022 at 12:29 PM, Cambon said:

Yes, good on them. It will not cost them anything as the amounts paid out will be a tax write off. The government will not lose as the people receiving it will have to pay tax and NI on it. Win, win situation. 

I am always interested even people say it won't cost anything as it is a write off against tax.  Any cost only reduces the tax bill by the relevant  percentage of tax on the cost that is levied on taxable profits, ie the net of whats left after deduction of expenses.  So, tax rate 20% and you have paid £100 in this support, the taxable profit is reduced by £100 and 20% tax is payable on the net, so effectively they get £20 of tax reduction.  Or is it 100% deducted from the tax bill, in which case you are right? 

[Cambon]

On 9/17/2022 at 8:57 AM, Gladys said:

I am always interested even people say it won't cost anything as it is a write off against tax.  Any cost only reduces the tax bill by the relevant  percentage of tax on the cost that is levied on taxable profits, ie the net of whats left after deduction of expenses.  So, tax rate 20% and you have paid £100 in this support, the taxable profit is reduced by £100 and 20% tax is payable on the net, so effectively they get £20 of tax reduction.  Or is it 100% deducted from the tax bill, in which case you are right? 

The point of any well run company is to make as little taxable profit as possible. Loss that can be carried forward is often preferable to profit. The big oil companies like BP, Shell, often make a profit so that an amount of tax is payable as it pleases the exchequer. The profits they are making at the moment are unexpected and unprecedented. 

[Gladys]

1 hour ago, Cambon said:

The point of any well run company is to make as little taxable profit as possible. Loss that can be carried forward is often preferable to profit. The big oil companies like BP, Shell, often make a profit so that an amount of tax is payable as it pleases the exchequer. The profits they are making at the moment are unexpected and unprecedented. 

We arent talking about BP, but local companies. BP tax arrangements are not quite the same as paying your staff a couple of hundred extra each month 'because it will cost nothing as you can write it off against tax'. 

For local companies other than banks or property companies, it makes no difference as they are in a zero corporate tax environment anyway.

Carrying forward a loss won't keep your shareholders happy either. 

 

[Cambon]

15 hours ago, Gladys said:

 

Carrying forward a loss won't keep your shareholders happy either. 

 

Shareholder dividends come out of pre-tax profit. 

[SleepyJoe]

They're not tax deductible tho'

[Gladys]

15 minutes ago, Cambon said:

Shareholder dividends come out of pre-tax profit. 

Yes but you have to the distributable reserves to pay them and the costs come out before you pay the dividend. 

 

Eta I think they come out of profit after tax, actually. 

Edited September 21, 2022 by Gladys