In a recent review of the government’s green policies, Prime Minster Rishi Sunak has decided to scrap the proposed introduction of stricter minimum energy efficiency standards for rental properties. The original proposed changes set out that all tenanted properties,...
IntroductionSince 2016, the private rental market in the UK has shrunk by around 400,000 homes. In this article, we will look at the reasons for this trend. Landlord Policy changes A report by CBRE has found that policy changes over the last ten years has...
Renters Reform Bill As part of the new Renters Reform Bill the Government is planning to launch a new landlord database. This database has the potential to provide HMRC with large amounts of information regarding landlords which they will be able to identify landlords...
The Government in the mini-Budget announced Stamp Duty Land Tax (“SDLT”) cuts to help first-time buyers and next-move homeowners purchase properties more affordably. These changes were effective from 23 September 2022. Unlike many of the other proposed tax changes,...
New data from the CN100 2022 ranking of the UK’s 100 biggest construction firms has discovered that aggregate pre-tax profits for the 100 biggest construction firms increased by just over £1.17bn. Equivalent figures from 2021 showed an aggregate pre-tax loss of £40m....
Introduction By 2025 more than 50% of 20-39 year-olds are expecting to be living in a privately rented rental property across the UK as the rise of ‘Generation Rent’ continues. Furthermore, as the rental market continues to grow, so does the competition with new...
Some senior figures in the construction industry have criticised the Government for focussing the new cladding tax on UK-based developers, as international developers will not be subject to the new tax. What is the new cladding tax and when will it be...
Starting in April 2023 many second homeowners will not qualify to pay business rates rather than council tax. However, the good news is that if they can demonstrate that their properties are rented out as a self-catering holiday let for at least 70 days a year then...
HMRC has launched a consultation into the methods used to calculate Stamp Duty Land Tax (“SDLT”) on purchases of mixed-use property. A mixed-use property is where a property is considered as both residential and non-residential. In addition, there may also be a reform...
The Chancellor announced in his Autumn Budget that from 27 October 2021 the deadline for UK residents to report and pay Capital Gains Tax (CGT) after selling UK residential property will increase from 30 days after the completion date to 60 days. This change follows a...
Forecasts by estate agent Hamptons have found that house prices are set to continue rising by 3.5% a year in Great Britain between 2022 and 2024. What is causing house prices to increase? Predictions have found that more homes will be sold in 2021 than any...
After a promising few months of record-breaking growth in the construction sector, the IHS market index has registered as 58.7 in July. It is important to note that this means there is still growth in the industry as any score above 50 demonstrates growth. However,...