Sunday, 28 March 2010

The March 2010 Budget


These Budget notes were compiled by Accountants and Business Consultants Kingston Smith, please direct any questions to Kingston Smith.



The 2010 Budget Speech was largely as expected: relatively devoid of meaningful economic content.

There was a welcome extension to the Stamp Duty Land Tax exemption for residential properties up to £250,000, which might provide a marginal boost to the housing market at the lower end, at the expense of an increase to 5% on properties over £1m.

The extension of Capital Gains Tax entrepreneurs’ relief to £2m was surprising and will be no doubt well received by the SME community. It will be difficult for an incoming government of whatever hue to overturn it, but it might well be viewed as a precursor to an increase in the rate of CGT to a rate more comparable with income tax.

As for the other tax measures the Budget was notable mainly for what it did not contain.

There was no mention of:

An increase in VAT, and an extension of the base to include food, which has become widely acknowledged as unavoidable.

An earlier starting point for the 50 per cent income tax rate, further restrictions in pension tax relief and further freezes/reductions in allowances.

Possible new "windfall taxes".

Some or all of these issues might well reappear in the first post-election Budget.

Here are the headline issues as we see them.

Click on the links below to read more on the individual topics, or click here for our full analysis of the 2010 Budget.











Lettings News week commencing 21 March 2010















Sunday, 21 February 2010

Inside Landlord Insurance


The Landlord Resource Centre on NetRent.co.uk is already the largest single free source of information available to landlords and letting agents in the UK.

Now we have added another section called Inside Landlord Insurance.

The first two articles have been specially written for NetRent.co.uk by Joe Manning who is the Private Clients & Schemes Director from our business partners Towergate Risk Solutions, Sevenoaks.

For more information please click here Inside Landlord Insurance.

NetRent.co.uk is one of the largest introducers of Landlord Insurance in the UK, for more information about our service please click here Insurance through NetRent.co.uk.

Sunday, 7 February 2010

The Government Announces Plans for National Landlord Register

On the 3rd February the Government announced it's intentions to regulate all Landlords through a National Register of Landlords. At the same time the Housing Minister, John Healey, announced his plan to establish a website that tenants could use to give 'feedback' on landlords.

In his statement Healey said "I'm making information about the track record of landlords available to everyone".

These are some of the main points from the report:

A national register run nationally

Compulsory for all landlords (defined as those letting a property on a tenancy agreement – this excludes leasehold, resident landlords and holiday lets)

Basic information required on registration will be name (plus date of birth to ensure uniqueness), contact address, address(es) of property for rent

No further information will be required and there will be no hurdles to registration

There will be a registration fee to cover administration costs

Registered landlords will receive a unique registration number which will be a prerequisite to key landlord activities

Failure to register will be a civil offence attracting a cash penalty

Compliance will be enforced through the two elements set out above backed up by extensive national publicity focused on both landlords and tenants

On registration, landlords will receive a “starter pack” containing information about their rights and responsibilities and helpful links to other organisations.

Similar information for tenants will also be made available as part of the Register website

Only public enforcement agencies will have access to the full data. Landlords will be able to access their data (using their unique registration number). Tenants will be able to access current or prospective landlords’ data (using the relevant landlord’s unique registration number and, therefore, only with permission from the landlord)


Landlords have already told us that they see a National Register as little more than a further tax on landlords. Landlords have already expressed their concerns about how the data contained in the National Register will be used.

But it is likely that the announcement of the website for tenants to comment on their landlord which will cause the most concern for landlords. There was no announcement of any plans for a similar website about tenants, something that many Landlords want.

One concern to us at NetRent is that according to the Government paper just 78 landlords took the time to comment directly on the Rugg Report. The Government estimate that there are over 1 million private landlords.

Click here to read the Government statement

Click here to read the Report

If you want to comment then you can do so on The Landlords Club forum.

If you have any comments or suggestions you wish to make through NetRent.co.uk please email us at enquiries@netrent.co.uk. In view of the nature of this Report we request that all comments are made by email or on The Landlords Club and not by telephone to NetRent.co.uk.