Latest property news
Economic Crime levy to increase after income target missed
Very large property agencies, based on their UK revenue, will see contributions to the Levy double from April 2024 after receipts for the period April 2022 to March 2023 showed a shortfall against the target of raising £100 million per year, which is used as long-term sustainable funding to tackle economic crime.
Double tax on empty homes takes effect on 1 April 2024
Homes in England with no residents will attract a council tax premium of up to 100% from next month as tax reforms aimed at supporting people in areas where empty properties prevent them from finding affordable housing come into force.
Propertymark lobbying leads to hope for pooled client account access
A consultation launched by HM Treasury could be the catalyst for change in the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 and end the ongoing problem of access to appropriate banking services for letting agents, which is the result of banks failing to properly understand how client money protection and anti-money laundering apply to unregulated firms.