Section 24 Tax Planning

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Solutions for landlords with a Section 24 tax problem.

First though, let’s take a look at what Section 24 tax is and why it’s so unfair.

The following Case Study explains why so many property rental business owners are considering incorporation

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BREAKING: Wales extends period during which landlords must give six months’ notice to evict

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The Welsh government has used its existing emergency Coronavirus powers to extend the period during which landlords must give six months’ notice before beginning evictions proceedings by another three months.

Existing legislation voted in by the Welsh Senedd in March last year was due to expire at the end of this month.

Housing minister Julie James (pictured, above) said in a statement: “The purpose of this alteration is to ensure that during the on-going public emergency, and in the light of the continued uncertainty caused by the emergence of new virus variants, landlords continue to give increased notice to tenants facing eviction from rented properties before landlords can issue proceedings for possession.

“The effect will to be to delay evictions meaning that: fewer people will face eviction into homelessness at a time when local authorities are less able to respond to these situations.”

Ben Beadle Chief Executive, NRLA (pictured) commented: “This announcement reinforces the urgent need for the Welsh Government to take rapid action to address the mounting rent arrears crisis unfolding across Wales.

“The expansion of long notice periods will only worsen this and prolong uncertainty for all involved.

“Landlords in Wales cannot continue to wait an average of 15 months to regain repossession whilst trying to deal with non-payment and anti-social behaviour making lives miserable.

“The Welsh Government must end the emergency pandemic measures as soon as possible if these businesses are to survive.

“A failure to proactively address the rent debt crisis will mean devastating long-term consequences for the individuals concerned and their credit scores – and preclude renters from accessing private sector properties for years to come, placing huge strain on local authorities to house people.”

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