Domestic Customers Pay 0% VAT With MAC
The April 2022 HMRC Spring Statement announced that the Guidance on energy-saving materials and heating equipment would be updated, specifically when it comes to VAT. Guidance legislation now states that certain energy-saving materials can benefit from 100% tax relief, meaning domestic customers pay 0% VAT on products that fit these criteria.
This news comes as a relief for many, as this decision will help consumers across the country, all while helping the UK work towards its goal of Net-Zero. For MAC this means our domestic customers can benefit from lower prices, whilst still benefitting from their air conditioning, and helping the environment at the same time!
Heat Pumps: Energy Saving Materials
The list of qualifying energy-saving materials includes insulation, solar panels, and, most importantly, heat pumps! This includes both ground source heat pumps and air source heat pumps, the latter directly linked to our air conditioning units. This means our air con officially counts as carbon-reducing technology!
Air source heat pumps are specifically part of our installed air conditioning systems that are fitted in domestic homes. This means that this benefit does not currently apply to our portable units or commercial customers. But for homeowners, this scheme could make all the difference, both in terms of energy efficiency and financial benefits.
5 Years of Energy Efficient Savings
This Guidance will begin from 1st April 2022 and is scheduled to run until 31st March 2027 at least, when it will be reviewed, allowing for five years of savings. However, there is no guarantee that slight alterations won’t be decided before this date. This means that it’s best to act fast and take advantage of this considerable discount whilst it applies!
This step in the right direction will allow our domestic customers to benefit from air conditioning, save money, and know that they’re also helping save the planet by choosing an energy-efficient option. Heat pumps are increasingly seen as an excellent energy-efficient option, as rather than generating heat they simply move it as necessary.
Invest in Renewable Energy With MAC
The timing of this scheme couldn’t be better, as this means now is an incredible time to invest in renewable energy like air conditioning. Make the most of this benefit and pay 0% VAT on your unit, whilst benefitting from energy savings into the future. Contact MAC today to inquire about air-con installation or come down to our showroom for personalised advice and to see our units in action!