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News Article

"In May, you MUST give your Tenants the Renters Rights Information Sheet or

YOU RISK  - £7,000 FINE  PER TENANT PER PROPERTY."READ MORE

All Parties Told Landlords Tax Policies Is The Main Reason For Landlords Selling Up – Not Banning Section 21

15th Sep 2023

Whichever party that gets into power it must treat the private rental sector as a major supporting partner in its housing policy.


Image credit: Unsplash

This is the view of the head of a trade organisation who is calling on all MPs irrespective of their ‘colours’ to debate and change private rental landlords’ taxing policies.

Daniel Evans of the association says the landlords’ taxing regime is the biggest reason why there are so many landlords leaving the sector.

He calls for the government to rescind the recent tax changes which along with cost of living and mortgage increases is making their livelihood unprofitable.

Evans says: “Landlords have been singled out and are now being hammered for tax. Every landlord is hit by other rising charges, like the cost of maintenance and repairs and the extra expense of new energy efficiency regulations, but it is the landlord tax policy which hurts them the most – no other business is taxed in this way.”

His comments come at a time as Labour has just highlighted the housing crisis as a priority for the general election when appointing Angela Rayner - Shadow Deputy Prime Minister – as the new Shadow Housing Secretary.

He warns politicians that the tax issue will becomes a disaster for ongoing rental supply and housing accommodation.

From the moment of buying a property to let landlords are taxed from day one and under the present tax policies are taxed at every stage of the property’s rented life.

The tax measures in England and Northern Ireland start with an extra three per cent Stamp Duty on any buy to let purchase, no mortgage tax relief and the reduction of Capital Gains Tax personal allowances, similar to Wales and Scotland.

Evans says: “Our senior politicians have to understand that the PRS is in crisis right now and it is a special case.

“There is a chronic undersupply of homes all over the UK and landlords continue to sell up which will only serve to make the situation worse for tenants.

“All they’re asking for is a level playing field on which to conduct their business. That can’t be too much to ask, can it?”

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"In May, you MUST give your Tenants the Renters Rights Information Sheet or

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Fit for Habitation|March 2019 The ACT is intended to define minimum standards a rental property MUST be and makes a clearer pathway way for Tenants to be compensated|https://www.pims.co.uk/fit_for_habitation_act_march_2019/ Guarantor|The person who provides a guarantee and promises to make payment good should the person responsible for the agreement fail|http://www.pims.co.uk/guarantors/ MEES|The Minimum Energy Efficiency Standard (MEES) Landlords are charged with the requirement to bring their rental property to a minimum EPC rating of E. Property with F and G rating will effectively be banned from the rental market April 2018 |http://www.pims.co.uk/epc/ Section 11|Section 11 of the Landlord and Tenant Act 1985 places an obligation on the landlord to maintain the structure and exterior of the property, including installations for the supply of water, gas and electricity, heating systems, drainage and sanitary appliances|http://www.pims.co.uk/landlord-section-11-repairs/ serving date|This date is the date deemed received at the property - as an example if posted allow for posting days|/serving-notice-on-a-tenant-delivery-days/ Tenancy Application|The objective of vetting is to empower yourself so you can make an informed decision as to the calibre of the prospective person. Making your decision on facts and figures is invaluable and this is why you should always take references. The application form also provides you with permission to perform credits. This form details all the information you should ever require deal with most eventualities including absconding tenants|http://www.pims.co.uk/doc/57/ Tenant Fees|From June 2019 where renting properties in England gone are the days of charging for admin, letting fees, vetting, references, inventory, check in, check out, cleaning, pet insurance or ANY other fee that is not explicitly permitted within the legislation. |https://www.pims.co.uk/ban_letting_fees_act_2019/