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.
Investigations into inheritance tax (IHT) are increasing and those inheriting properties need to make sure that their inheritance tax accounts are perfectly in order.
A change to Private Residence Relief could see more homeowners paying hefty Capital Gains tax bills on the sale of their homes.
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.
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.
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.
Tenant Fees Act comes into force on 1st June 2019 affecting all Landlords in the private rental sector in England.
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).
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.
The number of inheritance disputes reaching the High Courts has jumped 62% in two years.
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 […]
MA consultation launched by the Law Commission in December has considered how ‘right to manage’ legislation can be made quicker, simpler and more accessible for leasehold property owners. The Commission proposed various reforms to current legislation and is now considering responses to the consultation questions raised. Historically, buildings consisting of many leasehold properties would be […]
Greater protection for tenants with the end of no-fault evictions The Government has announced plans to scrap ‘no fault’ evictions with a new open-ended rental system envisaged. Such a system could mirror that introduced in Scotland two years ago and systems already operating in other European countries. Currently most renters take an Assured Shorthold Tenancy […]
According to figures in The Times 5.3 million (21%) homes in England and Wales are leasehold, meaning the property is not owned outright but is instead ‘leased’ from the freeholder, typically for a lengthy term. In a leasehold arrangement there will usually be a contract between leaseholder and freeholder which sets out the legal rights […]
April is a great month to have your Will written by Southport Solicitors, Breens. In return for a donation to Queenscourt Hospice, Breens will write your Will so you can protect your family and loved ones while helping to raise funds for your local hospice. Why make a Will? If you die without having […]
Under the new Tenant Fees Act, damage deposits taken at the start of a tenancy will be capped. There are also new rules around holding deposits. Landlords and letting agents need to take heed of the changes, or it could prove costly. What do the new laws say? The Tenant Fees Bill is set to […]
The new Tenant Fees Bill is set to be introduced this summer. Here’s a brief run-down of what’s changing, when, and what breaching the news laws could mean for landlords and letting agents. What’s changing? Until now, landlords and letting agents have been able to charge tenants additional fees for things such as references, credit […]
Advisory body the Home Owners Alliance has recommended that buyers of new-build homes should be able to retain 2.5% of the purchase price for the first six months to cover the cost of snagging defects. The body’s chief executive said that the proposal “would create a powerful incentive for builders to put problems right”. Such […]
A tax tribunal has ruled that buyers Paul and Nikki Bewley do not need to pay the 3% second home surcharge on the purchase of a derelict property that took place in 2017. Since April 2016 if a buyer already owns a property and purchases another, the stamp duty rates on the second purchase are […]
From the 8th April 2019, people living in Wales will have to pay the full cost of their own residential care only if they have assets of more than £50,000. Welsh ministers increased the capital limit by £10,000 only 12 months after it rose from £30,000 to £40,000. The capital limit determines whether a person […]