Christmas is over and, the General Election is finally behind us. As we head into 2020, there’s going to be plenty to keep UK landlords occupied. From networking at trade shows to keeping up with changes in legislation, most UK landlords are going to have a full diary. The following is our guide to the key dates for landlords for the next 12 months.
With Spring just around the corner, the National Landlord Investment Show hits London. Held at Olympia on the 19th of March, the show focuses on Buy-to-Let within the private rental sector.
Minimum Energy Efficiency Standards (MEES)
In 2018, legislation came into effect which stated that new tenancy agreements and renewals (with the exception of some HMOs) need, by law, to have an energy performance certificate (EPC) with a rating of F or G. From the 1st of April 202, this legislation will be extended to cover all existing tenancies as well. This means that UK landlords need to be on top of this now in order to be ready by the time the legislation begins.
Tax Relief Changes
In 2017 / 2018, claimable tax relief for UK landlords was reduced to 75%. From April 2020, landlords will receive a 20% tax credit on their interest payments and, it’s thought that, from 2021, UK landlords won’t be able to claim tax relief on mortgage interest payments at all. A lot of landlords are now looking into setting up limited companies which will help them to avoid higher rates, however, there is always the possibility that new legislation will scupper this plan.
Private Residence Relief
At present, UK landlords can claim Private Residence Relief for the whole time that they are in a private residence before renting to tenants, plus an extra 18 months afterwards. From April 2020, landlords will lose nine months of that Private Residence Relief and, also, the £40,000 worth of lettings relief enjoyed by landlords renting out a property which was once their main home will be scrapped. Finally, the payment deadline for Capital Gains Tax will change to within 30 days of the completion of the sale.
The 19th of May 2020 sees the arrival of the National Landlord Investment Show in Birmingham. The show will take place at Aston Villa FC and will include keynote speakers and plenty of opportunities for networking.
A one off event for private landlords and investors to learn about Supported Housing, the Landlord & Property Investors event takes place at The Studio in Birmingham.
The 8th of October sees the last chance for landlords to attend the National Landlord Investment Show - this time at Manchester United Football Club.
Date as yet unconfirmed
In January 2018, the Ministry of Housing, Communities and Local Government stated that mandatory five year electrical installation checks on private rented housing in England would be rolled out within two years. Although no date has been announced as yet, landlords are advised to keep an ear to the ground to make sure that they’re ready when the time comes.
Although these are the key dates for landlords to add to their diaries for 2020, we expect more to be added as the year gets underway so, we’ll keep you posted!