Green Stamp Duty Relief Slammed

Green Stamp Duty Relief Slammed

The Government is under fire from a parliamentary committee for failing to extend Stamp Duty relief for zero-carbon properties to existing homes.  This follows chancellor Alistair Darling’s Budge announcement that buyers of new-build flats will be eligible for Stamp Duty relief, providing they follow up recommendations in their Energy Performance Certificates.  

In a report published by the Communities and Local Government Committee, it says: “Stamp Duty relief will provide a way of stimulating the innovation needed to develop what is a niche market into a mass market.  It is hard to see why this logic should only apply to new-build and asks why the government continues to focus on new-build to the disadvantage of existing stock that represents the bulk of the problem”.  

The committee proposes that Stamp Duty relief apply to all homeowners who fulfil recommendations in their Energy Performance Certificates within a year of moving into their properties.

Our view

We should all be encouraged to become greener, not just new build homes.  This message clearly demonstrates that the Government is not fully committed to a greener UK.  It prefers to make more in taxes!

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