In terms of Capital Gains Tax (CGT), a normal residential let property is classed as an investment. However, a...
There are many things to consider when you’re thinking of buying a holiday let, and having an EPC is one of them.
An EPC, or Energy Performance Certificate, is a mandatory document that you must have available when owning any building in the UK. It states how energy efficient your building is and what impact it is having on the environment.
Read on to discover all you need to know about Energy Performance Certificates…
EPC stands for Energy Performance Certificate, it’s a compulsory scheme put in place to try and better energy efficiency across the EU – every building must have one. It tells you how energy efficient your building is on a scale of A (most efficient) to G (least efficient), as well as the environmental impact that your property could have.
Some of the determining factors of an EPC include heat and light usage as well as carbon dioxide emissions. An EPC will tell you how much these are likely to cost, the potential energy efficiency of your building and examples of things you can do to improve your energy performance rating. Discover ways to make your property more efficient with our handy guide to eco-friendly holiday letting.
An Energy Performance Certificate is divided into four segments:
To get an Energy Performance Certificate for your property, you will need to book an EPC survey with a Home Inspector or a Domestic Energy Assessor. They will visit the property, have a look around and ask you questions, before using the Reduced Data Standard Assessment Procedure (RDSAP) to calculate your energy performance score. The cost of an EPC varies depending on the supplier you use.
Find yourself a Domestic Energy Assessor by visiting the EPC Register website.
As of 2009, any building in the UK that is available for buying or renting, whether domestic or commercial, is legally required to have an EPC. If you do not have an EPC for your building, you could be charged up to £200 per day.
There are a number of determining factors that are considered when calculating your EPC rating, using the RDSAP system.
To calculate your EPC rating, the following factors must be determined:
Using this information, an estimated level of use is calculated for; energy use, CO2 emissions and fuel costs. Remember that these figures are calculated based on the average property with similar features to yours – your actual costs will differ from those estimated.
*Based on a 7 bedroom property in the Lake District with bookings between October 2017 to September 2018.
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