Silver Lining for commercial property landlords

Costs to refurbish certain commercial properties to meet the Minimum Energy Efficient Standard (MEES) could now attract 100% tax relief, as Jon Miles, explains.

In a move intended to help combat global warming the Government has announced a bolstering of the Minimum Energy Efficient Standard (MEES) for commercial property landlords, and hefty fines could be imposed for non-compliance.

Properties have a certain Energy Performance Certificate rating and where this is F or G, landlords must take remedial action before letting the property out on new leases. It is likely that the vast majority of F and G-rated properties will need refurbishment and modernisation to make them more energy efficient.

The silver lining

If remedial expenditure falls within the Government’s energy and water technology approved list, then 100% tax relief could be available through claiming Enhanced Capital Allowances, helping to reduce the cost overall.

If you are affected by the legislation and want to know whether your intended expenditure could qualify for 100% tax relief, just contact Jon Miles on 01225 325580 or email jm@richardsonswift.co.uk.