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22nd November 2019
Leases granted after 13 October 2003 for a term of more than seven years are compulsorily registerable with HM Land Registry. As a Landlord you may think that this is purely a Tenant’s problem, however from a Landlord’s perspective it is important that you ensure your Tenant registers their Lease, as failure to do so will have implications for you as well as your Tenant.…
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08th November 2019
When you hear the term “Stamp Duty”, you may automatically think of Stamp Duty Land Tax, the tax you pay on the acquisition of a “land interest”, such as your house. However, this is not the case, and in fact, Stamp Duty and Stamp Duty Land Tax are two different taxes. Stamp Duty is a tax on documents, one of these documents, which is the…
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20th September 2019
Prospective clients looking for a law firm may find the Legal Services Consumer Panel’s Tracker Survey of 2019 interesting reading. The report is based on findings from a YouGov survey of more than 3,500 users of legal services over the last two years and so is a significant sample. The findings, in this time of comparison websites, that ‘shopping around’ is often a bad thing for…
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16th September 2019
Most commercial leases are drafted to benefit landlords, particularly regarding repair, condition and decoration. Often, leases are fully repairing, obliging a tenant to upkeep, repair, and maintain the property without contribution from the landlord. Generally, a lease may oblige the tenant to put and keep the property in good and tenantable repair and condition. Depending on the state of repair of the property when the…
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03rd September 2019
When buying a property, the standard deposit expected on exchange of contracts is 10 per cent of the purchase price. Of course, the nature of a deposit is to show a buyer’s good intentions and allow a seller to rely on the same, as leverage, to ensure their buyer fulfils their obligations under the contract. The deposit therefore acts as adequate security to ensure a…
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09th August 2019
Benjamin Franklin said that the only two certainties in life are death and taxes. However, taxes can be minimised with better organisation, the full use of allowances and taking appropriate professional advice. There is a personal income tax allowance of £12,500 and further allowances against income from shares and savings. Those in a marriage or civil partnership can tax plan effectively for income, capital gains…
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17th June 2019
If you have been gifted a property or have acquired one at a significantly reduced price, you may wonder at your good fortune. What you may not have considered, however, are the potential implications of the Insolvency Act 1986 (as amended by the Insolvency Act (No 2) Act 1994) and its long-reaching impact. If at some point in the chain of title, which includes all…
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24th May 2019
When did you last review your investments and wider finances? In today’s climate of persistently low interest rates many investments, particularly those providing instant access on cash deposits, pay interest rates well below current inflation that measures 2.4 per cent according to the Retail Price Index. Even long-term and fixed-rate investments are paying interest rates much lower than their historic averages. As a result, allowing…
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24th April 2019
Option agreements and promotion agreements have become increasingly popular both with landowners and property developers – so what are they, when can they be used, and what differentiates one type of agreement from the other? Option and promotion agreements are ways of extracting capital from land with development potential. Both types of agreement give entitlement to an interest in the land – either to the…
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01st February 2019
Imagine you own a building you have earmarked for redevelopment but, in the interim, you would like to continue earning returns on your investment in order to meet costly outgoings. So you agree to grant some short-term one-year leases to your existing tenants. One tenant has expressed an interest in staying a little longer and, because that suits your circumstances, you agree to give them…
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