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FRIDAY 15TH APRIL 2005  LANDLORDS SHOULD BE AWARE OF NEW GUIDELINES Landlords, particularly those in towns, city centres and areas with a high concentration of student population such has Oxford, must be made aware of the new guidelines that are soon to be issued for houses with multiple occupancies (HMOs), advises Hamptons International. These guidelines, which effect properties with five or more people sharing cooking and washing facilities, and those in properties arranged over three floors, are going to be set by each local authority. Dayle Hodgson, senior manager for Hamptons' Central and South London cluster said, "Our advice to landlords is to not get caught out, and speak to their individual local planning authorities regarding timings for the introduction of guidelines. £20,000 fines will be enforced for non compliance." Budget changes affecting landlords In his Budget, the Chancellor raised the threshold for the payment of Stamp Duty Land Tax (SDLT) from £60,000 to £120,000 with immediate effect. How will this effect existing landlord’s? Dayle Hodgson said: "The threshold changes will not have any affect on landlords as only tenants have liability for Stamp Duty Land Tax." "With regards to tenants, only where the annual rent approaches £120,000 will tenant need to seek advice from the Inland Revenue regarding a possible liability for SDLT."

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