Reduce VAT on Flood Repairs
All flood damage repair and flood defence build work is subject to full rate VAT.
The VAT exemptions that apply for new build properties and home insulation upgrade work do not apply.
Insurers claim that householders forced to carry out repairs to their water-ravaged properties due to last summers flooding paid £525million in VAT for the work. Because the Government contributed only £ 86million to help affected areas, the Treasury netted £439million.
Many flood victims are either not insured or chose not to claim in order to keep premiums affordable so the actual VAT return is much higher.
The estimates for VAT return due to this years Winter floods will be much higher
This petition is to allow households to reclaim their individual VAT spend for flood repairs and flood defence work when this work has been completed.
Flood victims need help to recover and protect not for the Government to exploit this situation
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