UHY Ross Brooke Chartered Accountants

Oxford landlords face new squeeze from 1st Sept

act now HMRC deadlines

Legislation has been passed which requires private rented houses across the entire city of Oxford to be registered with Oxford City Council. The Oxford City Council Selective Licensing Scheme 2022 comes into effect on 1st September 2022 and will end on 31st August 2027.

With the early bird fee starting at £178 per property, landlords in Oxford are to be squeezed even further it seems, with more and more costs mounting. From recent mortgage rate rises, and tax breaks on mortgage interest restricted, to rising costs of agents and of course VAT on top of the higher costs. Then there’s also the possibility of rent default as a result of the cost of living crisis.

Oxford City Council have introduced this in response to the high percentage of private rented properties in Oxford (49.3%) and cites “The reason for selective licensing is to address problems like poor property conditions.”

As local accountants with an office in Abingdon, Oxfordshire, we act for many landlords to help them to manage their affairs as efficiently and effectively as possible, reducing their tax liabilities where possible and giving tailored business advice when needed.

With MTD for income tax also on the near horizon, is it the right time for you to switch to an informative and proactive accountant? Find out more about our accountancy services for landlords and do get in touch if we can help you.

Next steps

More information about the Oxford City Council Selective Licensing Scheme 2022 may be found here.

You may also be interested in:

Self assessment preparation and filing

Landlord’s management software

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