Section 58B — Finance Act 2003: Relief for new zero-carbon homes

Relief for new zero-carbon homes 58B 1 The Treasury may make regulations granting relief on the first acquisition of a dwelling which is a “zero-carbon home”.

2 For the purposes of this section—

a a building, or a part of a building, is a dwelling if it is constructed for use as a single dwelling, and b “ first acquisition ”, in relation to a dwelling, means its acquisition when it has not previously been occupied.

3 For the purpose of subsection (2) land occupied or enjoyed with a dwelling as a garden or grounds is part of the dwelling.

4 The regulations shall define “zero-carbon home” by reference to specified aspects of the energy efficiency of a building; for which purpose “ energy efficiency ” includes—

a consumption of energy, b conservation of energy, and c generation of energy.

5 The relief may take the form of—

a exemption from charge, or b a reduction in the amount of tax chargeable.

6 Regulations under this section shall not have effect in relation to acquisitions on or after 1st October 2012.

7 The Treasury may by order—

a substitute a later date for the date in subsection (6);

b make transitional provision, or provide savings, in connection with the effect of subsection (6).