Cut VAT to 5% on granny annex building – now!!
One thing I would really like to do if I could get enough people on board would be to get a question asked in Parliament about getting the VAT on work associated with housing a relative ie a granny annex taxed at 5% only not the 20% today!
To do this I need to start a petition on the government website which is easy but need 5 backers and then lots and lots of signatures to proceed so ask for your help and interest….
The idea came from when I used to work in the building industry there was a time when it was 5% fVAT and there were so many people carrying out extension work for example £10,000 was only taxed at £500 but today it is £2000!!
On a £100,000 figure which would get you a really good annex extension you are looking at £20000 vat!!!
I have no idea what impact this figure has on people’s decision but £20,000 would enable you to do so much extra work
What I found was that our as a result of our build a lot of good things came from it – some are below:
We sold 2 properties when the annex was built, releasing housing stock back into the market with the housing problems we have today all helps
Mums old tired bungalow was recycled for the 21st century…
The local builders merchants had lost of trade good for local business
Loads of small builders, one man bands were employed on the project giving people good work and encouraging annex discussion locally
Quite a lot of recycling went into the project, reclaimed roof tiles, floor tiles, worktops…..
Installing new energy efficient boilers, water saving toilets, high energy efficient widows good insulated accommodation all these things should be encouraged
Just a small section of positives when you build an annex and encourage others to do the same
If the government were to change the VAT position and be seen to encourage this type of building project all the other benefits would follow and help further advertise and encourage people to look after their relatives
As it is such an important subject wanted to blog about and hope other people got on board so we can rally parliament and get this top of their agenda!!!!!
thanks
David
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