Chancellor Gives Tax Breaks
Chancellor Gives Tax Breaks to Low-Carbon Homes.
According to the Chancellor (possibly soon to be PM), our properties account for a quarter of Britain’s carbon dioxide emissions, so he has taken measures to encourage the development of low-carbon properties. This will be of benefit to property owners by reducing their bills and the effect on the climate through lower emissions.Micro generation grants have been extended and by generating your own electricity a process has begun where owners can sell their excess electricity back to the national grid and boost their income.
The Chancellor has also abolished stamp duty until 2012 on all new zero-carbon homes providing they are worth no more than £500,000. Further great news is that a proposal has been put forward to the EU that VAT on energy-saving and environmentally friendly products should be reduced to 5 % instead of 17.5 %.
Campaigners are pushing for the increase in grants available for micro generation, which has also been increased from £12 million to £18 million to keep up with demand as more and more new homes are built. Property owners will be pleased to know that Government grants are available for solar panels and wind turbines with as much as a third of the cost available.
However, you will have to be quick as the demand for the grants is high and they are snapped up within hours.
So there you have it property investors, finally something to help us make a little more on our investments rather than take take take by the Government on our risk taking and hard earned money.
If you would like further information on low carbon homes and the grants available visit our website www.propertyconsultants365.co.uk or call one of our friendly team on 0191 469 3325.
