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Landlord's Energy Saving Allowance

This scheme ended in April 2015 - so will cover 2014/2015 tax year. The governments website advi...

This scheme ended in April 2015 - so will cover 2014/2015 tax year.

The governments website advice is as follows;

You can reduce your tax bill by up to £1,500 a year with the Landlord’s Energy Saving Allowance.

 This scheme ends in April 2015. You can claim the allowance until 1 April 2015 if you rent out your property as a business, or 6 April 2015 if you rent out your property as an individual. 

What you can claim

You can claim Landlord’s Energy Saving Allowance for the costs of buying and installing the following energy-saving products for properties you rent out:

cavity wall and loft insulationsolid wall insulationdraught-proofinghot water system insulationfloor insulationOwning property abroad

You can claim Landlord’s Energy Saving Allowance for properties you rent out abroad, as long as you pay UK tax on profits from those properties.

Owning more than one property

You can claim a maximum allowance of £1,500 for each house, flat or bedsit you rent out. For example, if you rent out a building that contains 4 flats, you can claim up to £1,500 for each flat.

Owning a property with others

If you own the property with others, you can claim a share of the allowance in one of 2 ways:

based on the amount of the property you own (eg if you own half of the property you can claim up to £750)based on the amount of money you spent on the improvements (eg if you covered half of the costs, you can claim up to £750)

Owners can claim a maximum £1,500 in total for each property owned.

Installing energy-saving items yourself

If you install the energy-saving items yourself, you can claim Landlord’s Energy Saving Allowance for the costs of buying them, but not for installing them.

What you can’t claim

You can’t claim Landlord’s Energy Saving Allowance on a property if:

you’re claiming an allowance under the ‘Rent a Room’ schemeyou’re renting out the property as furnished holiday accommodation

Click here for the full Gov.uk article.

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