Market Harborough, Leicestershire (PRWEB) September 13, 2012
With most household budgets stretched to the maximum, Builder Guide is taking proactive measures to remind consumers of the considerable savings available when purchasing certain items to improve the insulation of their home or to install renewable energy technologies to generate heat or electricity.
The savings to be had are associated with the VAT element when purchasing qualifying products, as well as the installation of such products. Rather than being charged the full VAT rate of 20%, the VAT rate applicable on energy saving materials is just 5%, so the savings can be substantial, particularly if you’re opting to purchase and install a renewable technology such as a ground source heat pump.
The lower VAT rate legislation on energy saving materials applies to UK domestic households only. However, there is a possible question mark as to how much longer this will be available as the European Commission wants the UK to amend this legislation. The good news for consumers is that the Treasury is unwilling to make the change. They are using the 5% VAT rate to encourage UK households to make improvements to their homes to help reduce their carbon footprint and lower their energy bills and so understandably the Treasury do not want to change this.
David Holmes, Builder Guide’s Founder commented, “UK consumers need all the help they can get in the current economic climate, and the lower VAT rate of 5% on energy saving and heating products is a huge help, especially considering home owner’s energy bills are constantly on the rise. Not only is it good for consumers but it is also good for the sector as a whole, which so desperately needs business to start picking pick up again”.
Builder Guide is raising awareness of the following 10 energy saving technologies that qualify for the 5% VAT rate:
2. Draught insulation
3. Solar PV panels
4. Solar thermal
5. Micro wind turbines
6. Ground source heat pumps
7. Air source heat pumps
8. Micro combined heat and power (CHP) units
9. Biomass heating systems
10.Central heating and hot water system controls
Builder Guide is one of the UK’s leading resources for consumers to find qualified and accredited trades professionals such as heating specialists, renewable energy installers, builders, plumbers and local electricians.
For more information visit builderguide.co.uk