The law and practice referred to in this article or webinar has been paraphrased or summarised. It might not be up-to-date with changes in the law and we do not guarantee the accuracy of any information provided at the time of reading. It should not be construed or relied upon as legal advice in relation to a specific set of circumstances.
Tuesday 19th January 2016
The Immigration Act 2014 comes into force 1st February. From that date any landlords failing to carry out proper checks on the residency status of their tenants face fines of up to £3,000.00. The draft Immigration Bill 2015-16, which is currently being considered by Parliament, and would likely come into force in 2017, will make any failure to carry out the proper checks a criminal offence. Details of the sanctions for such an offence have not yet been issued but could lead to increased fines and possible imprisonment.
And these aren’t the only changes set to affect Buy to Let landlords. From 1 April we will see the start of implementation of tax changes: firstly additional rate Stamp Duty on second property purchases. We saw Carbon Monoxide Regulations come into force at the end of 2016 and more draft legislation coming through parliament in the current year. Right to rent checks are another move to increase regulation of the buy-to-let sector and improve housing conditions in rental properties. To discuss these changes and how they will affect you and your buy-to-let properties further, please contact our Residential Property team on 020 7324 1538.
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