Buyers purchasing homes with low energy efficiency ratings could pay thousands of pounds in extra stamp duty, under proposals to help the Government meet its green homes targets. The Government is said to be considering a plan to push homeowners towards eco homes via a system of tax incentives and surcharges. These could swing buyers’ tax bills by tens of thousands of pounds and would directly affect house prices. The Energy Efficiency Infrastructure Group, a trade body, has drawn up plans for a “green stamp duty” system. This would be based around an energy efficiency benchmark, such as an Energy Performance Certificate score of 50. On either side of this benchmark there would be tax incentives and disincentives. David Adams, of the EEIG, recommended a typical one percentage point stamp duty adjustment in either direction. Under the proposals, someone purchasing a “future homes standard” end-of-terrace new build with an EPC band A for £250,000 would save £1,653 in stamp duty. Their total bill would drop from £2,500 to £847.
Telegraph 25th Nov 2021 read more »