Landlords can claim up to £1,500 when they install loft or cavity insulation on their property, says our Sunderland office.
Landlords who pay income tax and who let residential property are entitled to the energy saving allowance under the Chancellor’s Budget published in March 2004.
Martin Johnson, tax partner in Sunderland said:
“By taking advantage of this allowance landlords can make their property more energy efficient and more attractive to potential tenants. About 33% of heat is lost through the walls and insulation can save hundreds on household bills.
“Many landlords don’t realise that they’re entitled to this new tax relief. As well as saving tenants money, it’s a simple, cost effective way of making their property more environmentally friendly,” he added.
The relief applies for expenditure incurred from 6 April 2004 on capital expenditure in rented accommodation.
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