Homeowners to Benefit from No VAT on Energy Saving Materials
Whilst there was hope for changes to stamp duty rules and other potential benefits for homeowners in the Spring Statement, Rishi Sunak has opted to help homeowners with home improvements that will help make their homes more energy efficient and as a result reduce household bills whilst benefiting the environment. Homeowners will not pay VAT on solar panels, insulation, and heat pumps for the next five years and this will come into force in April 2022. We await further details on which technologies or models will apply and hope to hear about other schemes to encourage ‘Green Homes.’
As a law firm we would always recommend for you to check your mortgage conditions and covenants on your title deeds before incurring costs for these improvements. Please also ensure you use a reputable installer who will provide you with the correct certificates.
At Frodshams Solicitors, whatever your needs, you can rely upon us to provide legal excellence delivered with care.