Tax Relief for Energy Efficient Landlords

Are you a private residential landlord looking for some extra tax relief this year? Have you considered how energy efficient your rental property is now and if there are any improvements that could be made?

100% tax relief for each rented dwelling

100% tax relief can now be claimed and offset against rental income for improvements that take into account making your property more energy efficient. This allowance is up to a maximum of £1,500 per rented dwelling. So, for landlords who own several flats in the same building, the allowance can be multiplied and applied wherever improvements are made. The Landlords Energy Saving Allowance is also entirely different to the Annual Investment Allowance, that is available until December 2014, and in fact both can be used to reduce overall tax liability on your property portfolio.

Are you an individual or corporate landlord?

The answer to this question makes a difference only regarding the dates the claim period runs to, as follows:
  • Corporate – expenditure must be made before 1 April 2015
  • Individual – expenditure must be made before 6April 2015

What is classified as energy efficient improvements?

The following are all improvements that are relevant for tax relief under the Landlords Energy Saving Scheme:
  • Damp proofing
  • Insulation for floors and loft spaces
  • Insulation for cavity and solid walls
  • Insulations around hot water supplies
  The commercial team at Figurit would be happy to explain further how you can improve your tax position by using the Landlords Energy Saving Allowance and other relevant property tax reliefs.  Call today: 020 7376 9333

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