Slashing refurb VAT could fund new homes, say industry groups

By Hamish Champ2019-12-03T06:00:00

Source: Shutterstock

24 trade bodies tell main political parties a tax cut could help fund burgeoning build-to-rent sector

Cutting VAT on home improvements from 20% to 5% could pave the way for investment in new rented homes, according to a 24-strong consortium of industry trade groups.

Together with the Federation of Master Builders (FMB) and 22 other industry bodies the BPF has written to party political leaders urging a reduction in VAT on home improvement work, which it said could also generate £15bn in new taxes and unleash a £1bn “green revolution”.

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