VAT reduction would boost bathroom refurbishments, says BMA poll
One in four people would be more likely to refurbish their bathroom if a VAT reduction was introduced, says the poll commissioned by BMA Chief Executive
One in four people would be more likely to refurbish their bathroom if a VAT reduction was introduced, says a recent poll commissioned by the BMA.
The poll, which was conducted by Opinium, found that when presented with the prospect of a 15% VAT cut on bathroom products, 23% of UK adults said they’d be more inclined to undertake an improvement project.
Among 2000 questioned homeowners, over one in three said such a tax cut would encourage them to complete a full bathroom refurbishment.
Tom Reynolds, Chief Executive of the Bathroom Manufacturers Association, said: ‘The Government is considering how it might encourage a green recovery and home refurbishment is crucial. With a third of domestic water use in the bathroom, installing modern, efficient, and compliant fittings is vital. This research shows that reducing VAT to 5% on home improvement should be in the Chancellor’s toolbox.’
‘Over a third of respondents (36%) who said that they would not undertake renovation work within the next 3 months, stated that with a VAT cut they would complete the work immediately rather than waiting. But this is not just a tax break for toilets, as our research show consumers would use the additional budget on other home improvements’.