Hundreds of thousands of pounds going unclaimed by landlords
Published ¤ 26/03/2009
With the financial and environmental crises both dominating world headlines, few landlords are aware that they can claim back tax on energy efficient improvements made on their rental properties. According to tax experts, surprisingly low levels of claims are being submitted under the new Landlords' Energy Saving Allowance (LESA).
Under LESA, landlords are able to claim back up to £1,500 for each dwelling house to make energy efficient improvements such as draught proofing, loft and other types of insulation, cavity and solid wall insulation and hot water insulation. Moreover, these improvements will go towards improving landlords' rating on their obligatory Energy Performance Certificates.
Paul Skinner, managing director of PKS, commented: "Making energy efficient improvements to a property will reduce the cost of energy bills as well as maximise the tax savings available under LESA. It's a win-win situation for landlords. In addition to saving themselves money, they'll save their tenants money and do something good for the environment.
"It is essential in today's economic climate to stand out from the crowd. Offering your tenants additional savings and making them feel environmentally conscientious is a simple and cost effective way to be different".
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