The Chancellor Philip Hammond has delivered his Autumn Budget. Here are the key points of his speech impacting private landlords and the private rented sector (PRS).
+ Individual landlords operating property businesses, on a voluntary basis, will be permitted to use mileage rates to reduce the administrative burden for these businesses.
+ Around £20m of funding for schemes designed to support people at risk of homelessness will be introduced to enable them to access and sustain tenancies in the PRS.
+ The government will attempt to encourage landlords to offer longer tenancies, with Hammond announcing that he will be launching a consultation on the issue.
+ In an attempt to bring empty homes back into use, local authorities are being given the power to increase the council tax premium from 50% to 100%.
+ From February 2018 the government will remove the seven-day waiting period so that entitlement to Universal Credit starts on the first day of application.
+ The corporate indexation allowance will be frozen from 1 January 2018.