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00 44 (0) 207 349 9816
00 44 (0) 207 349 9808
Walton Residential Chelsea


 
 
There is encouraging news for landlords on ever increasing service charges and lease extensions, a Right to Manage and Invigorating Commonholds.


https://www.lawcom.gov.uk/millions-of-leaseholders-to-benefit-from-law-commission-reforms/

 


Landlords will be able to pick up vouchers worth up to £5,000 to make energy-saving changes to their rented property under the government’s Green Homes Grant. Thousands of homes qualify for the upgrade which is aimed at improving energy efficiency by putting Britain on track to achieve near zero carbon emissions by 2050 and to create up to 140,000 jobs. Every home is offered £5,000 under the grant, while poorer families can expect vouchers of up to £10,000. The money is available for a range of improvements, including loft, wall and floor insulation, eco-friendly boilers, heat pumps, double or triple-glazed windows, low-energy lighting, and energy-efficient doors.

In all cases, the property owner pays a third of the bill and the government pays the rest. The Green Homes Grant will accept online applications from September with a list of improvements that qualify for the grant and accredited tradesman who can carry out the work. The Chancellor explained most homes could save up to £600 a year on energy bills by making improvements under the scheme.

 

For more information:  https://www.gov.uk/green-deal-energy-saving-measures


Landlords must sign up to the government’s Making Tax Digital (MTD) scheme by April 2023. The MTD scheme will apply to all private landlords filing self-assessment returns for rental income totalling more than £10,000 a year.

The move is another step by HM Revenue & Customs towards getting all tax returns online. Businesses earning more than the VAT threshold of £85,000 must already file digital returns. In 2022 MTD will extend to all businesses registered for VAT, regardless of income.

For more information:

https://www.gov.uk/government/publications/making-tax-digital 

 

The UK Government has released a calculator that allows potential homeowners to calculate how much Stamp Duty they'll pay.

This calculator can be used for property purchases that are:

  • for first-time buyers
  • replacing main residence
  • additional property
  • residential or non-residential
  • freehold or leasehold

The calculator will work out the SDLT payable for most transactions. You should check the guidance if you are uncertain about how SDLT applies to your purchase or if you believe it may qualify for a relief.

There are different rules for a corporate body purchasing residential property for more than £500,000.

 

Here is the link

https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

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