NIBE Welcomes UK Spring Statement Tax Relief Initiatives

NIBE has responded to the UK Spring Statement, noting the scope impact of VAT relief and business rate exemptions.

NIBE's statement focuses on the Spring Statement measures affecting the energy sector. These include the expanded VAT relief for energy-saving materials, set at 0% for the next five years. This initiative aims to help households improve energy efficiency and reduce heating bills. The full NIBE statement acknowledges that the complete list of technologies qualifying for VAT relief is still pending release.

Also noted is the advancement of targeted business rate exemptions for onsite renewable energy generation and storage, now effective from April 2022. These exemptions are intended to support the decarbonisation of non-domestic buildings. The