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. Join me online on my free live money management training Wednesday at 8.00PM.  Register now – https://bit.ly/3QPp8IHThe UK Home Secretary, Suella Braverman, announced this week that fines will be more than tripled for employers and landlords who allow illegal migrants to work for them or rent their properties.  Watch full YouTube video version – https://youtu.be/Uk-RbN5A6dI 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 of the economic woods yet, so learning how to manage 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 https://youtu.be/5uJcr7YoPso 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 [email protected] with your property details and location.  Content for educational purposes only, not financial advice. Always speak to an independent financial or mortgage adviser. 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 [email protected] with your property details and location.  Content for educational purposes only, not financial advice. Always speak to an independent financial or mortgage adviser. 3 Steps To Success Money Management! I want to help you get control of your money, learn how to invest and become financially free.  Join me online on my free live money management training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH  #illegalimmigration #illegalmigrants #interestrates #property #mortgages #remortgage #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth   #bankofengland #inflation #money #servicedaccommodation #holidaylet #HMOrental #holidatrental #airbnb #booking.com #buytoletlandlords #health #businessThis show was brought to you by Progressive Media

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