Save Money On Your Loft Attic Or Dormer Conversion!

But you need to act now!

Loft Conversions Manchester

If you have been thinking about having a loft, attic or dormer conversion, then now is the time to act- if you want to save money!

The government introduced a reduction in the VAT rate last year. The idea was to help the economy by reducing the rate of VAT for a temporary period of time.

VAT (Value Added Tax) is a tax that you pay when you buy most goods and services. The standard rate of VAT was 17.5% and was temporarily reduced to 15 per cent, from 1 December 2008. This reduction expires on 31 December 2009.

From 1 January 2010, the VAT rate will return to 17.5 per cent.

Let’s consider  a loft, attic or roof dormer conversion at £15,000 +vat

If you have the work done before the deadline expires, the VAT added to £15,000 is £2250. If you wait and VAT is charged after 31 December 2009, then you will pay £2625. An additional £375.

A step by step loft conversion can be useful if it can help save money before the deadline expires.

If you can’t complete your project before that deadline, you will still be able to get some of the benefit, by having your loft conversion company submit invoices for part payment as the project progresses. This is normal practice anyway in many cases. It depends upon the agreed payment process and schedule when the works were agreed.

This is money that could be spent on decorating, furnishings or on some other part of your loft conversion project.

If you have been researching the benefits of having a loft conversion, then you are probably aware that it can add value to your home, as well as extra space.

Time is running out to benefit from this saving, so make sure you take action today if you are serious about moving forward with your  loft,  attic or dormer conversion project!

Manchester Loft Conversions