I Am An Accidental Landlord What Should I Do?

Posted on: 25 January 2020

I am An Accidental Landlord What Should I do?
The Government have decided to put forward a plan to stop tax relief for a landlord that once had a main home bu decided to rent due to either inheriting, moving for work, moving marry a partner.
 
There are around 500,000 of these landlords that could be hit by the taxman for £1,000's. From 6th April 2020, this tax bill will give the Treasury £470 million over 5 years. Which I would think is much needed money.
 
At the moment, you can move out of the property 18 months before selling the property and you would still be exempt, the new plans will be shortened to 9 months.
 
The other change relates to when a landlord sells their home after renting it out the lettings relief they are allowed is £40,000 of their gain from capital tax. While a couple is £80,000.
 
We at GBP Estates feel this could lead to house sales for landlords rushing to sell before April. For your FREE valuation of your rental property call Julie James on 01708 504455.
 
 

#lettings #propertymanagement #landlords #rentalproperty #romford #torent #investmentproperty #homeowners #taxbill #taxrelief #forsale #valuation #housing
 

Share:

Recent Articles

20 June 2026

The Romford Property Market: 10 Years After The Brexit Vote

  When Britain voted to leave the European Union on 23rd June 2016, many predicted the UK housing market was heading for trouble. Then Chancellor, George Osborne, warned house prices could fall by as much as 18%. Economists talked about collapsing confidence, falling transactions and...

Read More

12 June 2026

Romford Rents Have Risen 18.1% Since 2021

Romford's private rental market has changed considerably over the last five years. In 2021, the average monthly rent in Romford was £1,427. So far in 2026, that figure stands at £1,685. That is a rise of 18.1%. To put that into context, the average UK rent increased from £1,390...

Read More

6 June 2026

Romford’S Love Affair With Bungalows

  For much of the last two decades, bungalows have quietly slipped out of fashion. Overshadowed by those glossy new build developments, three storey townhouses and open plan ‘modern living’, they became seen by many as somewhere only your granny lives rather than an...

Read More

Get a FREE instant valuation

Find out how much your property is worth

Contact Us

01708 504455

info@gbpestates.co.uk

View on Google Maps

Follow Us