Comments Off on JEREMY HUNT’S AUTUMN STATEMENT – KEY POINTS FOR LANDLORDS
JEREMY HUNT’S AUTUMN STATEMENT – KEY POINTS FOR LANDLORDS
Income Tax
Top rate (45%) now to come into effect for those earning over £125,140 (was £150,000)
Other rates frozen
All above to 2028
Capital Gains Tax
Annual threshold to be cut from £12,300
- to £6,000 next year
- to £3,000 from April 2024
Stamp Duty
Cut in Stamp Duty previously announced to remain until 2025
Benefits
To rise in line with Sepember rate of inflation (10.1%)
Social Housing rents capped at 7%
Pensions
To rise in line with Sepember rate of inflation (10.1%)
Divident Allowance
To be cut
- to £2,000 to £1,000 in 2023
- to £500 in April 2024.
Inheritance Tax
Threshold to be frozen to 2028
National Living Wage
Rate from April 2023
National Living Wage £10.42
21-22 Year Old Rate £10.18
18-20 Year Old Rate £7.49
16-17 Year Old Rate £5.28
Apprentice Rate £5.28
Accommodation Offset £9.10
National Insurance
Threshold to be frozen to 2028
Energy Price Guarantee
To remain for twelve months albeit at a reduced rate
Alternative Fuel Payment
£200 for households that use alternative fuels, such as heating oil, liquefied petroleum gas (LPG), coal or biomass, to heat their homes.
This support will be delivered as soon as possible this winter
Cost of Living Paymens
- £900 to households on means tested benefits
- £300 for pensioner households
- £150 for those on disability benefits
- £1 billion of funding for the household support fund, extending the support for a further 12 months
Comments Off on HOLIDAY
Holiday
Please note that CRLA phones and emails will not be monitored during the period 5th August to 15th August inclusive.
All queries should be emailed to the usual email address (crlawp@gmail.com) and will be actioned as soon as possible after 16th August.
Comments Off on BUDGET MARCH 2022
BUDGET MARCH 2022
A brief summary of some of the main points in yesterday’s budget.
- National Insurance Threshold and Lower Profits Limit raised £12,570, from July 2022.
- Fuel Duty cut by 5p per litre
- O% VAT for Green Initiatives – it is not yet clear if landlords will be able to benefit from this when making improvements to properties to achieve EPC Grade E as currently required or Grace C as predicted.
These measures include:
- insulation for walls, floors, ceilings, roofs or lofts or for water tanks, pipes or other plumbing fittings
- draught stripping for windows and doors
- central heating system controls (including thermostatic radiator valves)
- hot water system controls
- solar panels
- wind turbines
- water turbines
- ground source heat pumps
- air source heat pumps
- micro combined heat and power units
- boilers designed to be fuelled solely by wood, straw or similar vegetal matter
This is alongside an increase in ECO funding from the energy producers.
- Household Support Fund – an extra £500million funding to local authorities from April 2022
- Employment Allowance to increase from April 2022
- Intention to cut and reform business taxes.
- Intention to reduce the basic rate of income tax to 19% from April 2024 together with reforms to the tax system.
- Intention to assess the Apprenticeship Levy
No changes in benefits including for Pensioners or those on Universal Credit
Comments Off on OPEN LETTER TO LANDLORDS AND AGENTS FROM MINISTER OF STATE FOR HOUSING
OPEN LETTER TO LANDLORDS AND AGENTS FROM MINISTER OF STATE FOR HOUSING
Rt Hon Christopher Pincher MP, Minister of State for Housing has written an open letter to all landlords and agents in England with advice on how to enact the government’s Winter Plan to tackle rising cases of Covid-19.
The following is extracted from the letter:
Key messages for Landlords
If you have responsibility as a landlord, whether in the Social Rented Sector or Private Rental Sector, we ask that you help us in our efforts to encourage behaviours to help combat the virus and cascade the message of the importance of good ventilation to your residents. Included in this letter is a summary of the key messages for residents, from the guidance, and a toolkit of additional materials to cascade through relevant channels.
To support the health of your residents, there are several things you, as a landlord, should do to enable ventilation in and around your residents’ homes:
- Ensure that all habitable rooms have functioning openable windows (including providing replacement keys where these have been misplaced/lost) – ideally with opening areas of at least 1/20th of the floor area;
- Ensure that all bathrooms/kitchens have either functioning openable windows and/or (preferably both) appropriate functioning extract ventilation;
- Consider installing positive pressure or constant run ventilation systems to ensure there is adequate background ventilation and to reduce the likelihood of condensation, and ensure that such systems are operating effectively, with filters etc replaced at appropriate intervals;
- Ensure that tenants have clear instructions and understand how to operate ventilation and heating systems, and are advised on the best ways to achieve a healthy and economic balance of heating, ventilation and moisture production within the home;
- Ensure that problems with damp are fully investigated and addressed promptly.
We also request that you prioritise as far as possible any planned or known works that might improve ventilation, such as repairing broken safety catches on windows for those concerned about security or a fall hazard
Click here to read the full letter
Comments Off on COURT FEES INCREASE FROM 30 SEPTEMBER 2021
COURT FEES INCREASE FROM 30 SEPTEMBER 2021
From 30th September 2021, court fees for landlord related claims are now:
| Claim Type | Previous Fee | Current Fee |
| Claim for Possession | £355 | £355 |
| Warrant of Possession | £121 | £130 |
| Claim for Money (up to £10,000) | £35 to £455 | £35 to £455 |
| Debtor Questioning | £55 | £59 |
| Bailiff Service on Debtor | £110 | £119 |
| Warrant of Control | £75 | £83 |
| Attachment of Earnings | £110 | £119 |
| Third Party Debt Order | £110 | £119 |
| Charging Order | £110 | £119 |
Landlords and lettings agents must ensure the correct fee is paid when issuing claims for possession, money, or enforcement matters.