The biggest problem with redevelopment of our historic buildings is the VAT situation. If you redevelop a old building you do not receive any VAT refund. However if you knock it down and build new you can claim all the VAT back on your development costs.

This anti heritage tax break needs changing and fast.



Imagine if the situation was reversed then old properties would be valued 17.5% more than new buildings and a lot more of our Georgian and Victorian heritage would still be standing. Edge Lane would be more valuable than knocking it down and building the proposed new tin sheds along the road.