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Scrapping of landlords’ tax break comes under fire
Plans to scrap a tax break designed to improve conditions in rental properties have come under fire.
The Landlord Energy Saving Allowance is due to end within days.
The LESA scheme, due to finish at the end of this month, allows up to £1,500 worth of energy efficiency improvements to be offset against income tax per rental property, per year.
The scrapping of the scheme comes with the clock ticking towards deadlines which impose new minimum standards for rental properties.
Rental properties that have low EPC ratings of F and G will become illegal from 2018.
However, as from April 2016, tenants who live in low-rated properties can demand improvements.
The landlord will then be legally bound to bring the home up to an E rating.
The Residential Landlords Association accused ministers of having failed to listen to campaigners.
Chairman Alan Ward said: “Ministers have talked the talk on improving the energy efficiency of the nation’s rented housing stock but have pulled the rug from under the feet of landlords and tenants.”
ARLA managing director David Cox said: “We’re very disappointed.
“ARLA believes that landlords should be able to choose whether to use the Green Deal, thus making tenants cover the costs of the improvements, or benefit from LESA if they decide to pay for improvements to their properties themselves.
“This is exactly why we’ve been campaigning for LESA to be extended, and increased to cover everything available under Green Deal finance.
“This is a regressive step by the Government that harms energy improvements and tenants, and we hope that the Chancellor will reconsider.”
http://www.propertyindustryeye.com/scrapping-of-landlords-tax-break-comes-under-fire/
