The recent first budget by a coalition Government included the announcement that VAT was to rise from its present 17.5% to 20% with effect from January 2011 – That’s just 5 months away.
Whilst we all hope there’ll be reduced vat offers available in the New Year, there’s no guarantee and any there are won’t last for long.
The new VAT figure means that on a upvc replacement window and door installation of £2,500, you’ll be paying £500 instead of £437.50 just in VAT. A £5000 new kitchen will mean a VAT bill of a £1000. On a £10,000 conservatory, the new VAT figure means you’ll be paying £2000 in VAT alone.
This is nothing compared to the increased cost you can expect to be charged for loft or garage conversions and home extensions.
So if you’ve been thinking of improving your home, then our best advice is to bring your plans forward and get those home improvements underway now. Leaving it to the New Year could have costly implications. Even waiting till later in the year could mean installation teams are booked up – everybody else having the same idea – and you may end up being forced to wait until the New Year anyway.
But don’t forget in your haste to save money, to get some comparative quotes from several companies first. Read up what past customers really thought of them and the quality of the finished job before making a decision on who’ll you’ll use.
Make sure you get your online quote from the Quoter family of websites, then take time to read what other homeowners had to say about the companies operating in your area, before you make any decisions.