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Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020’ came into force on 1 June 2020. The new regulations apply to new tenancies from 1st July 2020 and existing tenancies from 1st April 2021.
The standards that should be met are set out in the 18th edition of the Wiring Regulations.
- 1st July = New tenancies must have a satisfactory EICR to be let.
- 1st April 2021 = All existing tenancies must have a satisfactory EICR.
- Certificates will be valid for a maximum of 5 years.
- Failed EICRs have 28 days (or less if stated by the electrician) to resolve any issues and obtain a satisfactory report.
For more information, click here.
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The Chancellor of the Exchequer Rishi Sunak has announced a temporary Stamp Duty Land Tax (SDLT) holiday for properties for £500,000 or less. The Stamp Duty Land Tax (SDLT) holiday will be in place until the end of March 2021, as part of a range of plans to stimulate the economy during the Covid19 pandemic.
The threshold for 'no stamp duty' rises with immediate effect from £125,000 to £500,000.
The change to Stamp Duty Land Tax (SDLT) form part of a wider package of measures by the government designed to boost economic growth and further boost confidence in the housing market.
For more information, click here.
