Insulate Your Homes Or Face Tax Penalty

July 29th, 2010 posted by admin
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Insulate Your Homes Or Face Tax Penalty

Energy waste has become a major global concern, and governments try to implement new energy saving rules for households. As a direct response to this concern, UK authorities are reported to be working on a plan, which will have homeowners pay stamp duty penalties for homes which are not sufficiently insulated.

These rules apply both to individuals who buy such homes and to those who already own a home with poor insulation systems. The tax could rise significantly, and ministers hope that with the new enforcement homeowners will start receiving the wake up call and start making heir homes more efficient.

In most homes the following carry the main source of energy escape:

  • Boilers – especially old heating boilers are not at all efficient. A modern condensing boiler instead, will capture more heat than the regular old ones, and there will be no heat losses.
  • Windows- you need to insulate your windows so that you will save on the heating cost. For old houses where window insulation is almost impossible and inefficient, changing them for double-paned windows is highly indicated.
  • Loft insulation – if you lose heat due to faulty loft insulation, you might be faced with a very costly heat bill. Make a one-time investment, which will bring you quite some savings in the long term.

Buyers of homes with ineffective insulation systems will possibly pay 0.5% more stamp duty. However, if you believe that such a home is an affordable deal to you, you should always estimate the insulation costs as well before making any decision. This Governmental proposition could become law somewhere in the next two years, and it is a section of the “Green Deal” initiative. It was developed to help people sustain the financial needs for transforming their homes into energy saving establishments, through proper insulation systems.

The environmental challenge that most governments face includes how to reduce their own energy bill. A properly insulated home requires less energy to stay warm and cool when necessary. Less energy use means less fuel resources needed, which in turn means less funds required by the country to the bill.

For more Energy saving tips that you can put into effect in your home, check out the enigin blogs!