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The Accelerated Capital Allowance scheme helps online backup company

The Accelerated Capital Allowance scheme which is administered by the SEAI, on behalf of Minister Eamon Ryan’s energy department, allows companies to buy energy efficient equipment and write off its full cost against corporation tax in the year of purchase. Through this scheme keepITsafe, Ireland’s largest online backup company, purchased €80,000 of energy efficient servers, reducing their annual data centre running costs by 30%.

 “The Accelerated Capital Allowance Scheme acts as an important incentive to companies such as keepITsafe to invest in energy efficient equipment. It allows companies to move towards implementing more energy efficient practices and more importantly save money,’ stated Eoin Blacklock, Managing Director, keepITsafe

Welcoming keepITsafe’s successful participation in the Scheme, Minister Ryan said, “The ACA Scheme is designed to allow businesses to reduce costs and increase their energy efficiency. keepITsafe has shown that significant savings can be made - €80,000 in this case. Not only are they reducing their costs, but their whole business operation now runs more efficiently”

The scheme is quickly gathering momentum among the business community. With many companies facing cost reduction and competitiveness challenges at the moment, the manner in which it operates should assist. There is a cash-flow benefit for companies, who can claim the full cost upfront, rather than over eight years as was previously the case.

I’d encourage as many companies as possible to do as keepITsafe did, and get involved - it makes sound financial and environmental sense “

The ACA is a tax incentive for companies paying corporation tax and aims to encourage investment in energy efficient equipment. The ACA offers an attractive incentive whereby it allows companies to write off 100% of the purchase cost of qualifying energy efficient equipment in the year of purchase.

All Irish businesses can receive tax relief on equipment such as:

- Refrigeration and cooling systems

- Catering and hospitality equipment

- Electro-mechanical systems

- IT software and hardware

- Lighting

- Electric vehicles

Benefits to keepITsafe

The ACA tax incentive highlights the savings available by buying best-in-class and cost effective equipment. For example, a company investing in data servers, such as keepITsafe, can reduce annual running costs by 30% by choosing a different model. The investment delivers substantial savings over its lifetime.

The new servers are more energy efficient and use 50% less wattage then previous servers. The Kilowatt Hour (KWH) usage is halved.

Photo Attached

Eamon Ryan TD, Ministerfor Communications, Energy and Natural Resources

Eoin Blacklock, Managing Director, keepITsafe

About keepITsafe

keepITsafe are Ireland’s largest online backup provider and have more than 2000 clients and 150 partners on their books.  The company was formed in 2003 with a passion to eliminate the headache and burden of backup for their customers. The success of the company stems from its fully managed and fully monitored service along with its investment in key infrastructure in two of Irelands leading datacentres – Digiweb and Data Electronics. Working with customers to make sure that their backups are flawless and data can be restored from any location is key to keepITsafe’s credibility in the IT space. keepITsafe continue to push the boundaries of backup and to educate business owners in the areas of online backup and the legalities associated with the data protection act. Data loss has detrimental effects on businesses, what keepITsafe can guarantee is that you will never lose a file again by using their solution. http://www.keepitsafe.ie or www.onlinebackup.ie.