You will read everywhere that listed buildings are exempt from EPCs. What the law actually provides is narrower: buildings officially protected as part of a designated environment or for special architectural or historic merit are exempt insofar as compliance with certain minimum energy performance requirements would unacceptably alter their character or appearance GOV.UK Historic England.
Read that twice, because it is a test, not a category. Double glazing and external wall insulation might unacceptably alter a Georgian terrace; loft insulation and a modern boiler alter nothing anyone can see. A listed building whose recommended measures would all be invisible has a weak claim to the exemption.
What Historic England actually advises
Historic England's guidance is that many historic homes can accommodate sensitive energy improvements, and that owners should not assume the exemption applies Historic England. In practice, the safe course for an owner selling or letting is either to obtain an EPC (there is no penalty for having one; assessments do not oblige you to carry out works) or to document, ideally with conservation officer input, why the relevant compliance measures would unacceptably alter the building.
Listed rentals and MEES
If a listed rental has an EPC showing F or G, the MEES regime applies to it like any other domestic let GOV.UK MEES. The escape routes are the standard MEES exemptions: consent refused, works unsuitable for the building, devaluation, or spend up to the cap without reaching the floor, each registered with evidence on the PRS Exemptions Register. An unregistered assumption is not an exemption.
What to document
- The listing entry and what specifically is protected
- Conservation officer correspondence on the disputed measures
- Quotes or surveys showing which recommended measures would alter protected fabric
- If letting: the registered exemption and its evidence bundle
Related reading: the two exemption regimes, selling with an EPC, and improvements that do not touch protected fabric. Penalties for calling it wrong are on the penalties page SI 2012/3118.