‘Cutting VAT would encourage energy saving renovations’

A coalition of 34 organisations from the housing sector has called on George Osborne to cut VAT on renovation and repair work. In an open letter to the Chancellor ahead of his Autumn statement the group asks for VAT on domestic building work to be cut down from 20% to 5%, in order to make […]

China hands out tax breaks to solar manufacturers

China is giving a generous tax break to businesses which make solar power products in the country, its Ministry of Finance announced over the weekend. The tax break which began yesterday (1 October) will last until 31 December 2015, reported Chinese news agency Xinhua. Firms which sell solar panels they have manufactured themselves will get a […]

Green policy could cost householders ‘£600 a year’

The move from fossil fuels to green energy could cost British households £600 a year by 2020, according to an industry analyst. A new report by think tank Civitas claims the total price tag of pursuing renewables could rise above £16 billion a year when VAT is included. Dr John Constable (pictured), Director of the […]

EU sues Treasury over efficiency VAT break

The European Commission is suing the UK for giving VAT breaks to energy saving measures, it announced yesterday, prompting UK groups to press the Government to fight the plans “tooth and nail”. The Commission has threatened to refer the UK to the EU Court of Justice for months and finally did so yesterday. The EU’s […]

Builders demand Budget for energy efficiency

The next Budget should include measures to make Britain’s homes more energy-efficient and boost the construction industry, the Federation of Master Builders (FMB) has warned the Chancellor in a letter. Chancellor George Osborne is due to deliver his Budget for 2013 on 20 March, he told Parliament back in December. The FMB says the economic […]

Carbon pricing ‘can cut EU nations’ deficit’

Spain’s economic woes could be eased with more carbon pricing, according to new research which reckons taxing carbon emissions could do more to cut European countries’ deficits than other taxes like VAT. As Spain and other EU countries are struggling to get a grip on spiralling national debts, the new analysis suggests energy and carbon […]

Commission’s energy boss tries to calm UK efficiency VAT row

The European Commission’s own energy department disagrees with EU court action against the UK’s lower rate of VAT for energy saving devices. Philip Lowe, the Commission’s Director General for Energy said any scheme which made people save energy was “very worthwhile” and suggested the court action was driven by Brussels’ tax officials. His comments at […]

EU’s VAT threat could “seriously” damage Green Deal

Concerns are mounting over the EU’s threat to slap the 20% rate of VAT on energy saving products, with experts worried it could “seriously damage” the Government’s flagship Green Deal programme. The scheme gives loans for installing efficiency measures such as insulation. Under the scheme’s “Golden Rule”, the cost of the measures must be capable […]

Finance boss calls for energy tax cut

The boss of finance company Pockit has called on Government to reconsider the current VAT for energy bills. Danny Jatania claims the 5% rate is hitting those in poverty and thinks that scrapping the tax could help millions during the recession. He said: “By scrapping VAT on energy bills the government could cut the number […]

Treasury told: drop VAT on energy bills

The Treasury should drop VAT on household energy bills, an energy price comparison website said this week. Axeing the 5% tax rate would put energy in the same league as water which is zero-rated, according to uSwitch.com, which claims such a move would bring 250,000 households out of fuel poverty. Ann Robinson, Director of Consumer […]