By Steve Roulstone
There are three items of news this morning that are all worthy of note and comment, but not I feel, in their own right so I have added them all together in this Blog. They are about a Private Landlord who overstepped the mark in attempting to save money, a report on what TPO is trying to achieve and finally evidence that TPO are indeed acting where required against Agents who carry their logo, when they are not members and do not have the right to do so.
Property flattened in Twickenham.
This report in the Daily Mail today reports on a property owner who, on a property refurbishment, flattened the house concerned to enable him to rebuild the property, because allegedly, he wanted to avoid paying VAT which is exempt on a newbuild project. Quiet an extreme to go to I am sure you would agree and far be it for me to suggest he was justified in doing so, as the courts have indeed confirmed, but the case for reviewing the VAT charges for refurbishment contracts is overdue. Of course as a Letting Agent, we advise many an investment Landlord buying property for long term investment and whilst it is difficult to suggest that VAT should not be chargeable on either newbuild or refurbishment building works, there has to be a scenario which would better cater for both and this report confirms what people will allegedly do to make best use of current legislation.
TPO move closer to OFT approval.
Property Wire are carrying confirmation of the TPO Agents code having passed stage one of the review and subsequent request for approval by the OFT. This is alongside the new Kitemark, as introduced by The National Approved Lettings Scheme that the Industry is also adopting. As regular readers of this post will be aware, I support any move for professionalism in our industry as long as it has teeth (which is what the final article confirms!) and is in the best interest of the industry. This is where I have to take issue with this news, because whilst I am absolutely in agreement with what the TPO are doing and would support any move to have professionalism rubber stamped the Industry as a whole must be wary of confusing the public in what such organisations are trying to achieve. It will be to the Industries loss should our customers be confused by more than one code of practise or conduct being trumpeted at the same time.
TPO wield its power!
It is with great relish that I read the final article, namely that an organisation in the Midlands have been fined for wrongly displaying the TPO and OFT logo on its web site and thrown out of the voluntary membership of the scheme. In this instance the Company concerned were Estate Agents, but never the less the very fact that standards are being upheld for the right reasons (even if the judgement does seem a little ponderous) shows that the TPO does intend to operate as an association where membership does stand for professionalism within the industry it covers. Good news from where I stand!
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