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 Landlords Energy Saving Allowance (LESA) encourages landlords to make their let properties more 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.
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 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 6th April 2015 and is available for both private and corporate landlords who rent out residential property.
Posted: 2nd December 2011