LETTINGSnews
taxation
HMRC helping landlords!
Many landlords are unaware that they could be eligible for up to £1,500 in tax relief
if they improve the energy efficiency of their residential let properties. The Landlord’s Energy
taxation HMRC targets landlords
HMRC has launched a new taskforce to tackle tax evasion by landlords in the North West and North Wales. A further eleven taskforces will be created to cover the whole country. The taskforces will target tax evasion amongst landlords who
own and/or rent more than three properties. Mike Wells, HMRC’s Director of Risk and Intelligence, said, “These taskforces will come down hard and fast on those who have chosen to break the rules and deliberately evade the taxes they should be paying. Honest businesses, however, have absolutely nothing to worry about. HMRC is clear – if you deliberately
seek to evade tax we can and will track you down and you’ll face not only a heavy fine, but possibly a criminal prosecution as well.” Taskforces are a result of the
Government’s £900m spending review re-investment to tackle tax evasion, avoidance and fraud from 2011/12, which aims to raise an additional £7bn each year by 2014/15.
‘For landlords £1500 per home is good news!’
ARLA date
The ARLA Conference will be held on Tuesday 6 March at a new venue, the Hilton Metropole Hotel, Edgware Road, London. The annual event has a newly launched show website –
www.arlaconference.
co.uk where members and non members may view the programme and make bookings.
make a significant difference. This includes landlords who have a number of properties in the same building. For example if a landlord owns six flats in a building and made significant energy saving changes to the building, they may be eligible for an allowance for each dwelling, so six lots of £1,500. “The LESA is only available on qualifying expenditure incurred before 6 April 2015 and is available for both private and corporate landlords who rent out residential property. For further info contact Matthew Pocock: matthew.
pocock@fishergerman.co.uk
PROPERTYdrum DECEMBER 2011 49
Saving Allowance (LESA) encourages landlords to make their let properties more energy efficient by providing an allowance for the cost of acquiring and installing energy saving items. The initiative began on 6th April 2004 but many landlords are still unaware that they can claim the allowance. Matthew Pocock from Fisher German chartered surveyors says, “Up to £1,500 per individual dwelling house can be claimed where energy saving items are installed. For many who own multiple properties it can
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