Are you claiming your Landlords Energy Saving Allowance?

Are you claiming your Landlords Energy Saving Allowance?

You don’t get much in this world for free. LESA is a useful tax allowance available to landlords who are undertaking property improvements. It is a tax break for landlords who have taken steps to improve the energy efficiency of property they are letting e.g. lagging, insulation and draught-proofing.

If you are an individual landlord paying income tax on earnings from a let property, then you are  eligible. You can also claim as a landlord with a registered company paying corporation tax on lettings profits. Unfortunately, you will not benefit if you are operating as part of the “Rent a Room” scheme or renting a holiday home.

The allowance is worth up to £1,500 and you can claim if you have spent money on cavity or solid wall insulation, insulating the floor or hot water system, lagging the roof or draught proofing the property. If you have spent money on any of these then you can claim for the expense against tax. You can find full details on the government website, or ask your accountant. The LESA allowance expires on 1 April 2015.