Buyers of new zero carbon homes to qualify for tax relief on stamp duty
Buyers of new zero carbon homes will qualify for tax relief on stamp duty.
The incentive will come into effect in the next five years and the government hopes it will encourage the building of environmentally friendly homes.
The initiative means home buyers can save up to £15,000, however the building industry advise that few are likely to benefit soon.
A spokesman for the Homebuilders’ Federation said he didn’t think there was a single development that would currently qualify for the relief on stamp duty.
The government says the regulation is designed to ‘help kick start the market for zero-carbon homes, encourage microgeneration technologies, and raise public awareness of the benefits of living in zero-carbon homes’.
It hopes that by 2016 all new homes will be built to zero carbon standard.
The move is part of the government’s drive to cut back the UK’s generation of greenhouse gases, which cause climate change.