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News: Autumn Budget: Key points at-a-glance

Thu, 23 Nov 17

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. 



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