FIT's question

[Steve_1]

Have had varying opinions on the FIT's reimbursement sum.

Two companies have siad the first £900.00 in revenue is tax free, and taxed thereafter

and

Two companies stating that all revenue generated is tax free!!

Which is true or is there another correct statement

 

[mmccx]

its all tax free

 

[TedM]

Domestic generation income is all tax free - but subject to certain conditions.

782A Domestic microgeneration

(1)No liability to income tax arises in respect of income arising to an individual from the sale of electricity generated by a microgeneration system if—
(a)the system is installed at or near domestic premises occupied by the individual, and
(b)the individual intends that the amount of electricity generated by it will not significantly exceed the amount of electricity consumed in those premises.

Finance Act 2007