Introduction Figures published by Zoopla have found that demand for rental homes is at its highest level in over a decade. This increase in demand is compounded by the lack of supply which is driving up prices for those who rent. To demonstrate this, the number of...
What is being delayed? HMRC has announced that plans to implement digital tax reporting for unincorporated businesses and self-employed individuals and landlords in April 2024 will be delayed until April 2026. Why has MTD been delayed? HMRC have said that businesses...
A recent survey from Glenigan of more than 100 members of the National Federation of Roofing Contractors (NFRC) has found that roofing and cladding contractors are still struggling with recruitment issues in the third quarter of 2022. But, this survey does confirm...
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,...
The Office of Tax Simplification (OTS) has recommended that the government double the Capital Gains Tax (CGT) reporting and payment deadline for disposals of UK residential property to 60 days. Rules introduced in April 2020 mean that a UK resident disposing of UK...
During March 2021 almost 162,000 sales were agreed (according to Twenty CI data). This is a 77% year-on-year increase from 2020. This figure is the highest that Twenty CI data has ever seen since they started recording data back in 2009. Since the Stamp Duty Land Tax...
A survey conducted by the Construction Products Association (CPA) has found that price inflation for raw materials will continue to rise for the remainder of 2021. The survey found that housing is leading the economic recovery for the construction sector. But there is...