In my constituency of Bexhill and Battle we have a large number of constituents who live in managed retirement properties. Unfortunately, the management companies behind these properties often hold freeholders and leaseholders over a barrel, charging them extortionate fees for services that they often don’t even need.
Wednesday 6 March
In PMQ’s this week I took to the chamber to ask the Prime Minister to commit to reforming leasehold in the retirement sector and put a stop to rogue management agents ripping off vulnerable constituents. Read more here
Thursday 27 February
VAT on the labour element of management service charges. Last year, constituents wrote to me to express their concerns about new VAT charges that were to be applied to their property management fees. I took this up with the government on their behalf and it was confirmed to me that, by law, all property management companies should applying VAT to on-site staff costs but some companies had not be doing so. New HMRC guidance was issued that made it clear VAT would have to be applied from 1 November 2018.
For some of my constituents, the VAT charge could cost them upto £1k extra a year. Given that the majority of those impacted are retired and on fixed incomes, I have written to the Financial Secretary to the Treasury, Rt Hon Mel Stride MP, to see if the government is able to consider a VAT exemption for retirement properties. A copy of my letter attached at the foot of this page.