The Renters’ Rights Bill returned to Parliament for debate last week and included some new changes.
Cap on advance rent payments
A new rule is proposed that will cap advance rent payments at one month’s rent. Currently, there is no limit on the upfront rent a landlord can ask for. This is being used to exploit potential tenants in some places and particularly disadvantages renters on lower incomes.
Landlords will still be able to take a security deposit of up to 5 or 6 weeks rent alongside a one month’s rent in advance.
Safeguards for bereavement
Another proposed change will mean that bereaved guarantors will no longer be forced to pay rent for the rest of the tenancy where a loved one has died. This will make it easier to end a tenancy agreement in unforeseen and tragic circumstances.
Reducing early commitments
Currently students can feel pressured to sign a lease many months in advance. Therefore, it is being proposed that students cannot be locked into an agreement more than six months in advance of moving in.
Further changes proposed include closing potential loopholes in rent repayment order and using fees paid by landlords to directly fund the creation and work of a private rented sector Ombudsman.
See: https://www.gov.uk/government/news/new-law-to-protect-renters-one-step-closer-to-becoming-a-reality
If you're a sole trader or landlord with annual income over £50,000, a major change is coming your way. From 6 April 2026, you may be required to keep digital business records and submit quarterly updates to HM Revenue and Customs (HMRC) under Making Tax Digital (MTD) for Income Tax.
At Autumn Budget 2024, we were promised a consultation on the tax treatment of predevelopment costs. However, following the Court of Appeal’s decision on a recent case, the government is postponing publication of the consultation while it considers the implications of the decision.
.gif)