The government is introducing new legislation in England and Wales that will allow people to witness a will signing remotely via a video link. The new legislation will not be place until September however the government intends to back date the law to the 31 January 2020. Why has the government introduced this change? Under […]
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Temporary change in Stamp Duty threshold
The chancellor, Rishi Sunak, announced a temporary amendment to Stamp Duty rates on Wednesday. What is Stamp Duty? When you purchase land or property in England you must pay Stamp Duty Land Tax (SDLT) on the value of the acquisition. What is the change to Stamp Duty? From the 8 July, the Government has raised […]
Rise in challenges to wills
The number of wills challenged in the High Court hit an all-time high last year. The Ministry of Justice has released figures which show that claimants brought 188 will challenges to court last year. This is a 47% increase on the 128 claims made in 2018. Reasons for rise in number of will claims Lawyers […]
Delays at probate office cause further grief for bereaved families
Delays and problems at the probate office are causing further stress and anguish to the recently bereaved. What is probate? When a person dies, the person named as executor in the deceased’s will need to apply for grant of probate before they can deal with the deceased’s finances and share out their assets. Are there […]
Time to re-claim higher rate of Stamp Duty extended
As movers struggle to sell their old home during the lockdown, the government has extended the time allowed to reclaim stamp duty. Those who have moved to a property they considered their main residence before selling their previous main residence had to pay the higher rate of Stamp Duty Land Tax (SDLT) but if they […]
Reform for Victorian Wills Act needed?
Lawyers have called for MPs to pass emergency legislation to amend the rules on witnesses but, more than two months into lockdown, there has been no change.
Southport conveyancing market reopens
Ministers updated regulation 6 of the Coronavirus Regulations to allow people to leave the house to undertake any of the following activities in connection with the purchase, sale, letting, or rental of a residential property:
Limited company’s assets frozen following death of sole owner and director
In normal circumstances, a company will not register executors at Companies House until they are able to produce a grant of probate. Probate can take a long time sometimes years and in that time the business would be irrevocably damaged.
Will disputes on the rise
Many more families are going to court over the contents of a will.
New rules on intestacy brings increase to amount a surviving spouse can inherit
The Government has kept its promise to review the amount a surviving spouse can inherit automatically and has raised the statutory legacy amount to £270,000.
Inherited a home? Watch out for the taxman
Investigations into inheritance tax (IHT) are increasing and those inheriting properties need to make sure that their inheritance tax accounts are perfectly in order.
Capital gains tax rules change for Homeowners
A change to Private Residence Relief could see more homeowners paying hefty Capital Gains tax bills on the sale of their homes.
Northwest house prices rise
Figures released by the Office for National Statistics (ONS) show that property house prices in the Northwest of England rose by 3.4 per cent in the year to May.
National policy introduced to ease the housing crisis
In July 2018, the government published a revised version of the National Planning Policy Framework, known more commonly as the NPPF2. Its aim is to encourage local authorities to build more affordable housing, in the hope of easing the housing crisis. In fact, the goal is to supply 300,000 homes each year by the mid-2020s.
Updates to the Minimum Energy Efficiency Standard
On 1 April 2018, the Minimum Energy Efficiency Standard (MEES) regulations came into force. Since then, a landlord has been unable to grant or renew a lease, if their property has an EPC rating of F or G. These properties are known as ‘substandard’. From 1 April 2020, a landlord cannot continue to rent a substandard property.
Deposit Cap and Tenancy Fee Ban introduced from 1st June 2019
Tenant Fees Act comes into force on 1st June 2019 affecting all Landlords in the private rental sector in England.
More rent deposit disputes are resolved early
The number of rent deposit disputes between landlords and tenants that are being resolved before they reach the final adjudication process has increased, according to a report by the Tenancy Deposit Scheme (TDS).
Predicted rental increases as landlords plan to sell up
A survey carried out by the Residential Landlord’s Association (RLA) has revealed that more than one in four landlords will sell at least one of their properties over the next year. This exodus from the buy-to-let sector is thought to be fuelled by rising property prices coupled with unfavourable legislation, encouraging landlords to cash in on their gains.
High Courts burdened with DIY Will disasters
The number of inheritance disputes reaching the High Courts has jumped 62% in two years.
Record inheritance tax receipts for the treasury
The taxman enjoyed a record £5.4 billion of inheritance tax receipts in the last financial year: an increase of 3.1% on the previous year. Insurer Canada Life predicts this figure will grow to £10 billion by 2030 as a result of the stagnant nil-rate band which isn’t keeping pace with inflation. Whilst the £325,000 allowance […]
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