VAT hike for listed building repairs opposed

A number of organisations say that VAT for repairs and alterations to listed buildings should not be increased to 20 per cent.

A letter to chancellor of the exchequer George Osborne opposing the move has been signed by 17 groups, including the Royal Institute of British Architects, the National Home Improvement Council, the Institute of Historic Building Conservation, the Campaign to Protect Rural England and the Federation of Master Builders.

The correspondence sent to the politician claimed this measure has already caused disruption to a number of intended construction projects and might threaten the future of some of the UK’s historic structures.

FMB chief executive Brian Berry pointed out “sympathetic alterations” are often required so listed buildings can maintain their economic, cultural and social value.

“We shouldn’t underestimate the role these buildings play when it comes to supporting our local economies,” the expert added.

Heritage tourism boosts the UK‘s economy by £20.06 billion every year and supports the employment of 466,000 individuals, the letter stated.

Related Post