Household energy bills are being capped by the government at £2,500 per year (from £1,971) from October 1st, to combat soaring costs. Prior to the announcement, energy bills were expected to rise to £3,549 per year. The energy price cap will apply for 2 years to all households in England, Scotland and Wales. However, the […]
Government rent reform causing concern among landlords
A recent survey, published by Goodlord and Vouch, has revealed that the government’s rental reform white paper is worrying landlords, agents and tenants across the country. The rental reform white paper, published in June, was created to explain the government’s plans to reform the private rental sector and level up housing quality. However, the feedback […]
Scotland’s rental crisis and the effect on buy-to-lets
Scotland has seen a dramatic increase in rental prices in recent years, as the shortage of homes has led to tenant bidding wars and price surges. The situation is most extreme in Scotland, but it is starting to become a problem in other parts of the UK as well. The recent legislation changes in Scotland […]
Property disposals and CGT: tips to reduce your liability
Understanding Capital Gains Tax (CGT), specifically, what your liability is, is essential when considering options for selling a buy-to-let property.
300% council tax increase for second homes in Wales
From next year, some owners of second homes in Wales could pay up to four times their current rate of council tax. Currently, councils can charge a council tax premium of up to 100% for second homes. However, the government has announced their plan to increase it to 300% from April 2023. The increase is […]
Tourists asked to check if holiday let is affecting the housing crisis
With summer in full swing, many families are beginning to plan their annual holidays. For many, this means renting a holiday home in one of the UK’s popular tourist destinations. However, tourists heading to the southwest of England are being urged to check prior to travelling if their rental will worsen the area’s affordable housing […]
Housing shortage causing tenant bidding wars
Tenant bidding wars have become increasingly common as the number of homes available to rent has failed to keep pace with demand. This shortage of rental properties has led to landlords receiving multiple applications for every vacancy, and in some cases, tenants are even willing to pay above the asking price in order to secure […]
Will taxing landlords at the source become the norm?
Under a proposed new scheme aimed at reducing rental fraud, letting agents and property websites would collect and report tax on behalf of landlords. This proposal has been met with firm opposition by finance professionals and landlords. It has also raised many questions about data privacy and who would be liable in the case of […]
Do you owe Capital Gains Tax on your property sale?
With the regulations surrounding Capital Gains Tax and property sales constantly shifting, many homeowners and their advisers may not realise that they owe tax on the disposal of a property.