NEW THREAT To Landlords And Employers As
Home Office Tripple Fines For Supporting Illegal Immigrants
Just when landlords thought they’d suffered
enough red tape a new threat is looming.
If you would like to take things to the next
level and learn more about managing your money and becoming financially free, I
invite you to join me on my 1 Day S.M.A.R,T MONEY Workshop – Saturday
19 August 10-5pm (with regular breaks and a lunch).
Click here to register: https://buy.stripe.com/00g01E92W4R8cfebII
The UK Home Secretary, Suella Braverman,
announced this week that fines will to be more than tripled for
employers and landlords who allow illegal migrants to work for them or rent
their properties.
The civil or non-criminal penalty for
employers, last raised in 2014, will be increased to up to £45,000 per illegal
worker for a first breach from £15,000, and up to £60,000 for repeat breaches
from £20,000.
Fines will rise from £80 per lodger and
£1,000 per occupier for a first breach to up to £5,000 per lodger and £10,000
per occupier.
Repeat offenders will face fines of £10,000
per lodger and £20,000 per occupier, up from £500 and £3,000 respectively.
The higher penalties, which require a lower
burden of proof than a criminal prosecution, will be introduced in 2024.
The Home Office will consult on options to
strengthen action against licensed businesses who are employing illegal workers
later this year.
Almost 5,000 civil penalties have been
issued to employers with a total value of £88.4m since 2018.
In the same period, buy-to-let landlords
have been hit with over 320 civil penalties valued at £215,500.
Minister for Immigration Robert Jenrick said
that employers and landlords should already be checking the eligibility of
anyone they employ or let a property to. There are a number of ways to do this,
which are not changing, including via a manual check of original documentation
and a Home Office online checking system. The online check takes only 5
minutes.
Over 17,000 people have entered the UK illegally
this year on small boats from France.
UK inflation fell to 6.8% (from 7.9) this
week raising hopes that the Bank of England will hold interest rates at 5,25% -
the highest for 15 years - next month.
However, with core inflation unchanged at
6.9% interest rates could rise to 5.5% adding further pressure on the housing
market and driving the UK further towards a recession.
We are not out the economic woods yet, so
learning how to mange your money has never been so crucial.
See also:
Landlord - Serviced Accommodation V
Buy-to-Let Property Rental And HMO’s - Exploring Alternative Buy-to-Let
Strategies in the UK: Serviced Accommodation, Holiday Letting, and HMOs
See: – Transfer Property Into A Limited
Company Without Paying CGT or Stamp Duty https://youtu.be/mtGq7WaVxLA
If you would like more information and an assessment on letting your property
hassle free, hands-off with FULL MANAGEMENT using the serviced
accommodation model, email southherts@localagent.co.uk
with your property details and location.
Content for educational purposes only, not
financial advice. Always speak to an independent financial or mortgage adviser.
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S.M.A.R.T Money Management Workshop
I want to help you get control of your
money, learn how to invest and become financially free.
If you would like to take things to the next
level and learn more about managing your money and becoming financially free, I
invite you to join me on my 1 Day S.M.A.R,T MONEY Workshop – Saturday
19 August 10-5pm (with regular breaks and a lunch).
Click here to register: https://buy.stripe.com/00g01E92W4R8cfebII
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Your money personality
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