Welcome to 2022! Are you ready for the year ahead?

Early signs have suggested that the demand for rental property locally remains high, this is due to ongoing stock shortages as well as an influx of people relocating for work with the big employers such as JP Morgan. Whether these trends will continue over the year we will have to wait and see but with the general costs of living going up there will still be plenty for landlords to think about, and prepare for.

Some key dates coming up –
31 January 2022 – Payment deadline for Tax Self-Assessments – Remember, if you use Christopher Shaw Residential for managed or rent collect services our accounting system prepares pre-populated statements for you. You can download them at any time from the landlord portal.
3 February 2022 and 17 March 2022 – Bank of England base rate review dates – It is important for borrowers to keep a check on their mortgage products as base rate reviews can affecting mortgage interest rates. Rates are expected to rise this year from the recent historic lows.
7 February 2022 – Energy Price Cap increases expected to be announced from 1^st April 2022. Landlords whose bills are included should be mindful of this.
1 April 2022 – Making Tax Digital for VAT - all 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. It is expected to be rolled to people using Self-Assessment in 2024.

We are also expecting to hear further information over the coming year on the Renters Reform Bill, the Regulation of Property Agents Bill, and that of the increase to Minimum Energy Efficiency Standards for rented properties.