As always in the property rental industry there are constant changes to legislation and other rules and regulations to keep landlords on their toes. However, 2022 and 2023 are shaping up to be big ones, with many changes relevant to the industry scheduled to come into force over the next year or so. Here is the summary of changes for this month.
1 April 2022: Energy price cap will increase (UK)
Much publicised recently, the maximum that utilities companies can charge customers for energy will be increasing by 54% to a new higher price cap. This will have an immediate effect to HMO landlords obviously, but those letting Buy to Let properties should also be aware that this is likely to put a squeeze on all tenant’s finances.
1 April 2022: Making Tax Digital for VAT (UK)
All agencies or individual landlords registered for VAT, will need to sign up to Making Tax Digital, and keep digital VAT records and use software packages to submit their VAT returns from April 2022.
6 April 2022: Right to rent rules will change to cover the new digital process for British and Irish citizens (England)
Rules will change from 6 April 2022, to allow the use of certified Identification Document Validation Technology (IDVT) providers to check the right to rent in the UK – both ID and eligibility checks – of British and Irish citizens on behalf of landlords and their agents.
6 April 2022: Biometric Residence Card / Permit holders will need to use the right to rent online checking service (England)
Also from 6 April, landlords and agents in England will no longer be able to check biometric residence cards or permits manually. Applicants will need to prove their right to rent with a share code which you can then check via the online checking service.
