Amidst the endless lists of government cuts and tax increases, there are glimmers for some savings to be made if you look in the right places.
Buying a zero-carbon home might be an ethically sound decision but now it seems to be a financially sound decision too. If you are looking to purchase a property up to £500,000. you would normally be paying tax of anything up to £15,000 but with the zero-carbon exemption no tax is payable. In order to qualify for this tax relief, a home certificate must be issued by an accredited assessor.
Even if you are looking to purchase a property worth over £500,000 you can still make a saving on the tax payable, the maximum relief is £15,000. So if you are purchasing a property costing £600,000 you would normally pay stamp duty of £24,000 however this relief means you would only pay £9,000
At present there does not seem to be a cut off date for this relief so if you are looking to purchase a zero-carbon rated home, contact a member of our residential property team on 01553 660033.
