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Call to return the stamp duty for greener homes

Homebuyers who make their property more environmentally friendly, must return the stamp duty, demand some of the leading leaders of the UK

  • The call for action was made in a letter to Business Secretary Kwasi Quarteng
  • Reduction of stamp duty among the package of requirements for energy efficiency
  • An existing homeowner in a property worth £ 250,000 can save £ 2,500 on a stamp duty

Homebuyers who make their property more environmentally friendly should return the stamp duty, demanded some of the UK’s top executives.

A call to action by business leaders, including Chris O’Shea, head of energy giant Centrica, was voiced in a letter to Business Secretary Kwasi Quarteng ahead of his energy security strategy, which is due to be released this week.

The reduction in the state duty is part of a package of requirements to improve energy efficiency against the background of the worsening cost of living crisis for households, largely due to high fuel bills.

Refund: stamp duty discount included in energy efficiency package

The letter, signed by members of the Coalition of Sustainable Homes and Buildings, including CEOs such as Carl Arntzen of boiler maker Worcester Bosch and David Lindberg of NatWest Retail, outlines a plan from eight sides.

This includes a proposal to “reform the stamp duty” to include a discount for households that have “improved their energy efficiency within two years of purchase” as well as a tax adjustment “based on home energy efficiency”.

The source said: “There is really no time to wait – the government needs to think urgently and creatively about the problem, considering absolutely everything. Reform of the stamp duty could really change the dial. ”

An existing homeowner who relocates to a property worth £ 250,000 can save £ 2,500 on stamp duty payments. That could rise to £ 15,000 for a buyer who buys a house for £ 500,000.

In November, the average price of a British house for the first time exceeded 270,000 pounds.

Other proposals in the letter include a public information campaign on energy efficiency, doubling “funding and ambitions in the social housing sector” and a national housing audit to “understand the exact state of the housing stock”.

The signatories say their demands are in response to “a background of unprecedented rising energy costs and heightened concerns about energy security.”

A government spokesman said: “Our strategy for heat and construction sets out a full package of measures to modernize the country’s buildings.

“We are also accelerating our progress in improving the energy efficiency of homes in England by investing more than £ 6.6 billion in the decarbonisation of homes and buildings and the introduction of higher performance standards.

“Last week, we announced plans to reform VAT benefits for families wishing to install energy-saving materials.”

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Call to return the stamp duty for greener homes

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