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Landlords 'not claiming' energy efficiency tax breaks

Category: Insulation (23.03.2009)

Landlords who have installed loft insulation, cavity wall insulation or other energy efficiency measures have not been taking advantage of tax breaks for the home improvements.

According to accounting firm Smith & Williamson, there has only been a "low level" of take up for the Landlord's Energy Saving Allowance (LESA).

Under the scheme private and corporate landlords can claim back the tax on the cost of buying and installing measures such as double glazing, insulation and draught proofing.

Richard Mannion, national tax director at Smith & Williamson, said: "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."

Not only can landlords claim money back and contribute to combating climate change, but they could also be helping the value of their home.

A study from the Energy Saving Trust revealed home buyers would be willing to pay more for a house that had a higher rating on its energy performance certificate.
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