Recent tax advisers and accountants’ feedback is that HMRC has sent out a wave of ‘one-to-many’ letters to taxpayers. HMRC’s latest targeted ‘victims’ are taxpayers claiming Research and Development Tax Relief, individuals exceeding the lifetime limit of the Business Asset Disposal Relief and unsurprisingly those who operate short-term property letting and perhaps not declaring part or all of their ‘gains’. According to the financial advisers and accountants the letters were…

The Tenancy Deposit Scheme has announced a link up with eco organisations in a tree-planting initiative. TDS says the campaign was driven by agent customer and so far over 100 trees have been planted across the UK. Sales head Debbie Davies says: “As the world looks towards greener, more sustainable solutions to our everyday actions, this initiative is an excellent example of how we can all make a difference.” The…

The majority of private landlords would consider switching to a letting agency because of the current complexity of buy to let.  A survey of 2,000 landlords by comparative service USwitch says 63 per cent of landlords are open to make the transition – and one of the biggest reasons is because of agents’ knowledge of the sector. And almost a third of landlords say agents’ capacity to manage repairs provides…

A new survey of landlords has revealed a patchy record of awareness of new energy efficiency regulations for the rental sector. The survey, by Market Financial Solutions, is relatively small – just 459 landlords – but it shows that just 58 per cent of landlords are aware of the new EPC rules coming into effect from 2025 and just 38 per cent saying they now of the details. Two thirds…

A new ‘How to Rent’ guide has been released by the government today, with letting agents and private landlords reminded they MUST serve this version at the start of any new tenancy or on renewal. Rules were brought in eight years ago making it mandatory for agents and landlords in England to provide the latest version of ‘How to rent: a checklist for renting in England’ to their tenants when…

Self-managing landlords consider instructing agents, report reveals The majority of self-managing private landlords would consider switching to a property manager or letting agency, a new study shows. This is especially true for landlords managing their own properties, with 63% being open to make the transition. Almost a third (29%) of private landlords say a switch to an agency would be due to their stronger knowledge of the market. The most…

New research from Rightmove suggests that all-inclusive rents are rising up the list of priorities for tenants using the portal.  The research was commissioned for the BBC and shows that ‘bills included’ is the second most popular on the list of search terms, having been fourth a year earlier. The data shows that historically the acceptance of pets in lets has consistently topped the list of search terms for rental properties.…

A much-hyped government proposal to introduce a Rental Mediation Service to resolve disputes, sustain tenancies and reduce pressure on the courts appears to have flopped.  The idea came up during the pandemic when the Ministry of Justice and the Department for Levelling Up Housing and Communities wanted the County Court service to operate the mediation idea. However, it’s now been discovered that there were just 0.73 per cent of potential…

The UK housing market is back in sharp focus today with Nationwide’s house price index showing falls for the sixth consecutive month. Buyers are bossing it in the market right now. They know they have the upper hand, given overall interest is so weak so they are clearly bullish about getting reductions from sellers. There are some hopes that the lower deals now on the market, compared to awful Autumn’s mortgage mayhem…

Annual house price growth slipped into negative territory for the first time since June 2020, with prices down 1.1% in February compared with the same month last year. Moreover, February saw a further monthly price fall (-0.5%) – the sixth in a row – which leaves prices 3.7% below their August peak (after taking account of seasonal effects). The recent run of weak house price data began with the financial…

The latest Consumer Price Index (CPI) from the Office for National Statistics (ONS), released on 15 February, revealed inflation slowed down for the third month in a row in the UK. Prices rose 10.1% in January, down 0.4% when compared to the 10.5% inflation rate in December. Despite this slight decline in overall inflation, food prices remain at a 45-year high, while regular pay – when adjusted for inflation –…

March arrives this week and ahead of the planned 15th March Spring Budget statement by the Chancellor, let’s take a look at what 10 things we’d like to see from Jeremy Hunt’s Budget. Growth plans Jeremy Hunt laid out the bare bones of a plan for growth in January, but this needs to be fleshed out with a lot more detail about where the funding will come from. He has…

The last year has seen a surge in calls for rent controls across the UK as demand continues to outstrip supply and the cost of living crisis continues.  In Wales, the Welsh Government is exploring what ‘fair rents’ may mean and is planning to publish a green paper on this later in the year. In England a number of the city mayors recently called for a rent freeze and a ban…

NRLA proposals for major court reform, a review of landlord taxes, and exemptions for student landlords set to be hit by the abolition of the fixed term have been backed by the influential Levelling Up, Housing and Communities Select Committee. NRLA Chief Executive Ben Beadle explains more. Since the Government first announced its rental reform plans more than two years ago, the NRLA has been vocal about what needs to…

New analysis of the English Housing Survey by the Building Research Establishment has found that excessively cold homes in England could be costing the NHS £540m a year. The BRE’s report – The Cost of Poor Housing by Tenure in England – provides a breakdown of the impact of poor housing on the NHS in each of the owner occupied, privately rented, and socially rented sectors. Of the 2.4m homes…

Propertymark says current government policy over leaseholder protections is too weak. The letting agents’ trade body has thrown its weight behind a series of House of Lords amendments to the Levelling Up and Regeneration Bill, put forward by The Earl of Lytton.  The amendments would establish a Building Safety Remediation Scheme and ensure that remediation focuses on individuals responsible for building safety risks arising, be that from non-compliant products or…