Submitted on Wednesday 24th August 2011
Published on Thursday 1st September 2011
Current status: Closed
Closed: Saturday 1st September 2012
Signatures: 19
Tagged with
Reduce VAT to 5% on energy saving double glazing.
VAT for energy saving products and measures is generally 5%.
According to the Energy Saving Trust, one of the most cost effective and carbon reducing measures we can take in our homes is to replace single glazing with double glazing. This will reduce heating bills by at least 15%.
According to section 2.18 of HMRC notice Notice 708/6 (Energy Saving Materials), double glazing is specifically excluded and attracts VAT at 20%.
Target45Plus note that installing solar panels saves 0.5-1 tonne per year (5% VAT) and fitting double glazing saves at least one tonne per year (20% VAT).
The one-off cost to the treasury for reducing VAT on an average double-glazing install of £2000 would be around £300.
The cost to the treasury of 5% VAT on a £12,000 solar PV install is £1,800, to save around half the amount of carbon.
I call on the Government to remove this discrepancy and help lower bills and cut carbon emissions by reducing VAT to 5% on energy saving double glazing.
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3.14.255.58 Tue, 24 Dec 2024 02:23:46 +0000