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Glossary
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Her Majesty’s Revenue and Customs ('HMRC')
A government department that administers and collects major taxes such as Income Tax, Corporation Tax, and Capital Gains Tax.
House in Multiple Occupation ('HMO')
A property rented out by at least three people who are not from one 'household' (for example, a family) but share common facilities like the bathroom and kitchen.
House Price Index ('HPI')
An official statistic provided by the Land Registry that captures changes in the value of residential properties in England and Wales. We use the HPI to revalue the properties regularly based on the data for the particular borough or region and type of property (this is updated annually with a valuation undertaken by a surveyor). At present the HPI contains details on over 19 million sales and the data is analysed on ‘like for like’ comparisons between properties. For more information please see the HPI website.