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Landlords Face £7,000 Fines as May Rules Reset Renting and Tax

A packed May schedule tightens budgets through new tenant paperwork, daily HMRC penalties, pending bill updates.

Overview

  • The Renters' Rights Act, which took effect Friday, bans no‑fault evictions, turns fixed terms into rolling tenancies, limits rent rises to once a year, bans rent bidding and caps advance rent to one month.
  • Landlords must give each named tenant the official Renters' Rights Act information sheet by May 31 or face local‑authority fines of up to £7,000 from early June, according to government guidance.
  • For people who missed the January 31 self‑assessment deadline, HMRC began charging £10 per day from May 1 until £900, with a further six‑month penalty of 5% of the tax due or £300 on top of the initial £100 fine.
  • Ofgem will set the next quarterly energy price cap by May 27 for bills from July 1, with Cornwall Insight forecasting a rise from £1,641 to about £1,837 a year for a typical home.
  • Employers must issue P60 forms for the 2025/26 tax year by May 31, giving workers a record of total pay and tax deductions often needed for refunds or mortgage checks.