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Month: November 2019

Home 2019 November

Tax Changes

Go Direct FranchiseAdvice, Landlords

There are further tax changes as of 6 April 2020. Landlords beware if you are selling in the New Year … Individuals, trustees and personal representatives (accountants) or anyone making a capital gain from the sale or other disposal of a property will have to make a “residential property return” and payment on account of any capital gains tax within 30 days of the completion of the disposal. The tax changes are, predominantly, aimed at second homes or rental properties, so do not apply where the disposal is a main residence. Like everything with HMRC, penalties and interest will be…

Electrical Safety

Electrical Safety

Go Direct FranchiseAdvice, Landlords, News
Although there is a legal requirement to have an annual gas safety inspection, there has not been the same demand on private landlords for electrical safety. However, provisions made in the Housing and Planning Act 2016 enable the Secretary of State to make regulations about electrical safety standards for properties let by private landlords. As of 25 October 2019, the Secretary of the State has the power to make the regulations which will provide the electrical safety standards to be met by all residential landlords. The standards specified or determined in accordance with the regulations are: Installations in the premises...

Abolition of Section 21

Go Direct FranchiseUncategorised
With all the changes within the property industry, we ask: ... should the abolition of Section 21 be seen as a threat or an opportunity? What a DYNAMIC industry we work in! There is one question. Has the housing market in the UK been so bad for so long that it needs reforming in nearly all avenues all at once? Let's just look at what is in the tubes now. I'm sure, from a Landlord's perspective, it can’t be the pending licensing legislation? NOOO. Not even the abolition of Mortgage Interest Relief, the dreaded Section 24? NOOO. It must surely...