Tax breaks for eco-friendly landlords welcomed by NLA
www.moneynews.co.uk > Housing market > Tax breaks for eco-friendly landlords welcomed by NLA
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Money News |
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Tax breaks for eco-friendly landlords welcomed by NLA
Wed 7th May 2008
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Under new government legislation, landlords who install energy-saving measures such as loft insulation, draft proofing and cavity wall insulation will be able to claim a maximum of £1,500 against the cost.
For higher-rate tax payers, that could mean savings of up to £600, in addition to energy cost savings.
David Salusbury, chairman of the NLA, stated: "As well as contributing to the overall efforts by society to combat climate change, landlords may see an increase in the value of their investment as a result of energy efficiency improvements."
The measure follows earlier legislation requiring all rental properties in England and Wales with a new tenancy to have an Energy Performance Certificate. That will come into force from October 1st 2008.
Last week the NLA suggested that a proposed branded rental market scheme could compromise the diversity of the UK's rental sector.
Related News : Housing market |
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