Press Release:
Tax allowance to end - Landlords urged to act now

Release Date 20 March 2015

With just over a week to go till the end of the Landlord's Energy Saving Allowance (LESA) scheme the National Insulation Association (NIA) is urging Landlords to contact its members to take advantage of the scheme.

Landlords can currently reduce their tax bill by up to £1,500 a year with LESA by claiming for the costs of buying and installing the following energy-saving products for every one of the properties they rent out:

- cavity wall and loft insulation
- solid wall insulation
- draught-proofing
- hot water system insulation
- floor insulation

Neil Marshall Chief Executive of the NIA commented: "Landlords should act quickly as these scheme is about to end and we are urging landlords to contact their local NIA Installer without delay to find out more about the scheme and arrange a survey and quotation.

"Home insulation is the most cost effective way of saving on domestic energy bills. Around 60% of heat can be lost through uninsulated walls and roofs; but with the right measures put in place, tenants could be making significant savings on their energy bills ensuring they are able to pay their rent.

"By installing Cavity Wall Insulation savings of up to £275* per year can be made and £240* per year from Loft Insulation. Draught-proofing windows and doors can save between £25 and £50* per year and when installed with other measures will greatly increase the comfort in a home. The savings are even greater for insulating solid walls up to £455* per year!

Landlords can be safe in the knowledge that an NIA member will have signed up to a strict Code of Professional Practice, meaning peace of mind comes as standard.

Richard Lambert Chief Executive Officer of the National Landlords Association commented: "Now that the minimum energy efficiency standards for the private rented sector have been confirmed, landlords should be thinking about what they need to do to meet them and how they can provide warmer homes for their tenants.  This is the last chance to take advantage of this extra tax concession, so they should act quickly so as not to lose out.""

The Private Rented Sector will also face new energy efficiency requirements in 2018 that require all properties be up to at least an 'E' band rating, before they can be legally let.

To find a local accredited NIA installer Landlords should visit the NIA website or call 08451 636363.

Landlord's Energy Saving Allowance ends in April 2015. Landlords can claim the allowance until 1 April 2015 if they rent out your property as a business, or 6 April 2015 if they rent out their property as an individual.

*Figures from the Energy Saving Trust and correct for 2015


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