Isle of Wight votes to bring in £30,000 fines for rogue landlords

Isle of Wight landlords face a crackdown after the council agreed to bring in tough new civil ©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - Isle of Wight votes to bring in £30,000 fines for rogue landlords | LandlordZONE.

Isle of Wight votes to bring in £30,000 fines for rogue landlords

Isle of Wight landlords face a crackdown after the council agreed to bring in tough new civil penalties, LandlordZONE can reveal.

The council is the latest to introduce fines of up to £30,000 which will be used where landlords fail to comply with improvement notices, offences in relation to HMO licensing and contravening an overcrowding notice.

The council says it will choose how to prosecute those involved, either by enforcing a civil penalty or through the magistrates’ court, on a case-by-case basis.

According to Island Echo, when reviewing one case the council had recently dealt with concerning a landlord who’d failed to fix nine hazards in a home where three children lived, housing enforcement officers determined that reasonable civil penalties would have been about £10,000.

The island has a rented sector of nearly 17,000 households. The council reports that money made from civil penalties would create a sizeable income for housing enforcement purposes, with the potential to add more resources to regulate housing standards.

A council report states: “We aim to support good landlords who provide decent homes and avoid unnecessary regulation which increases costs and red tape for landlords and also pushes up rents for tenants.

“However, a small number of rogue landlords knowingly rent out unsafe and substandard accommodation. We are determined to crack down on these landlords and disrupt their business model.”

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©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - Isle of Wight votes to bring in £30,000 fines for rogue landlords | LandlordZONE.

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BREAKING: Landlords given a month longer to pay CGT bills, budget reveals

Landlords have been given longer to pay their Capital Gains Tax (CGT) on residential property gains from ©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - BREAKING: Landlords given a month longer to pay CGT bills, budget reveals | LandlordZONE.

BREAKING: Landlords given a month longer to pay CGT bills, budget reveals

Landlords have been given longer to pay their Capital Gains Tax (CGT) on residential property gains from 30 to 60 days, Chancellor Rishi Sunak has announced in his Autumn budget.

The measure, which takes effect immediately but was hidden in the budget statement’s lengthy accompanying detail, applies to UK residents who are selling residential property within England.

For non-UK residents disposing of property in the UK, this deadline will also increase from 30 to 60 days.

“This will ensure that taxpayers have sufficient time to report and pay CGT, as recommended by the Office of Tax Simplification,” the Chancellor’s post-budget guidance says.

“When mixed-use property is disposed of by UK residents, legislation will also clarify that the 60-day payment window will only apply to the residential element of the property gain.”

Previously, those reporting and paying tax on CGT had much longer – until the end of the tax year.

The Association of Accounting Technicians () says it has been lobbying for the past 18 months for this change.

It has highlighted member concerns that 30 days was not long enough, saying: “The process is reliant on clients setting up a CGT account online – which can take at least two weeks – within 30 days,” says its Head of Public Policy Phil Hall.

“Agents are not able to do this for their clients, which means this deadline is often missed, particularly around Christmas.

“It’s a common-sense measure that helps taxpayers and their accountants whilst maintaining increased revenue for the Exchequer.

“I am very pleased that HM Treasury and HMRC took on board the views of our members and changed their position accordingly.”


©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - BREAKING: Landlords given a month longer to pay CGT bills, budget reveals | LandlordZONE.

Source : Landlord Zone More   

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