SLIDE 1
MSB Solicitors
- Established 1988 ‐ 3 offices
- Fixed fees for possession claims
- Debt claims against tenants and guarantors
- Dedicated conveyancing office
- Plot sales/off plan team
- www.msbsolicitors.co.uk
- phillipcoburn@msbsolicitors.co.uk
LANDLORD FORUM 2017 Sponsored by MSB Solicitors MSB Solicitors - - PowerPoint PPT Presentation
LANDLORD FORUM 2017 Sponsored by MSB Solicitors MSB Solicitors - - PowerPoint PPT Presentation
LANDLORD FORUM 2017 Sponsored by MSB Solicitors MSB Solicitors Established 1988 3 offices Fixed fees for possession claims Debt claims against tenants and guarantors Dedicated conveyancing office Plot sales/off plan team
SLIDE 2
SLIDE 3
s8 Notices
- New notice as of 1.12.16
- Arising from Assured Tenancies and
Agricultural Occupancies (Form)(England)(Amendment No 2) Regulations 2016
- New Ground 7B – Tenant occupying unlawfully
- n immigration grounds
- Using old notice could result in strike out
SLIDE 4
s24 Finance (No 2) Act 2015
- Remove ability of landlords to deduct finance
costs related to residential property from taxable income
- Replace with tax reduction equivalent to basic
rate of Income Tax
- Landlords whose income exceeds upper
threshold of basic rate will be taxed on significant portion of turnover
SLIDE 5
s24 Finance (No 2) Act 2015
- Landlords may look to increase rents of
tenants to cover loss.
- May lead to increase in tenants falling in to
rent arrears or other debt
- Increase in evictions and homelessness
- May reduce number of affordable rentals
- Pressure on Local Authorities to assist with
rehousing
SLIDE 6
Pre‐Action Protocol on Debt Claims
- Comes in to force 1.10.17
- Applies to any business claiming debt from
individual or sole trader
- Does not apply business to business (unless
sole trader)
- Letter of claim to include where debt arises
from, date of any agreement, statement of account and Financial Statement form
SLIDE 7
Pre‐Action Protocol on Debt Claims
- Letter of claim sent by post
- Issue after 30 days if no reply
- Allow reasonable period of time if debtor
seeking advice
- Proceedings should not commence less than
30 days from receipt of debtor’s reply or 30 days from any documents requested, whichever is later
SLIDE 8
Pre‐Action Protocol on Debt Claims
- Try to reach agreement on instalments based
- n income and expenditure if debtor indicates
they require time to pay
- Use of Alternative Dispute Resolution
encouraged – can be discussion and negotiation
- Courts will expect compliance with protocol
- Exercise caution in deciding whether to issue