Did you know that the average age of first-time buyers has increased to 35 (37 in London), with the average home price estimated to jump by 30% in the next 10 years? It is no surprise then that many first-time buyers are trying to get on the property ladder as soon as possible, especially […]
Inheritance tax (IHT) could be a ticking time bomb for many families, states Helen Beach, Partner in our Wealth and Estate Planning Team and Regional Director of SFE (Solicitors for the Elderly). Only the other week HM Revenue and Customs revealed IHT collections for April to July 2021 were £500 million higher than the same […]
So, you have reserved your dream home, spoken with a broker and instructed your solicitor. In this article, we give you our top tips on what you can do to make your property purchase more streamlined. Incentives If you have agreed an incentive/allowance with the developer, this will be noted on the CML form. This […]
Between 1 April 2013 to 31 March 2020, thousands of properties were bought using the Help to Buy: Equity Loan scheme (HTB). However, from 1 April 2021, the scheme was only available to first-time buyers. Despite this change (together with the end of the stamp duty holiday, the impact of the pandemic, and the […]
A Will is one of the most important documents we can all make for ourselves, irrespective of our circumstances. It is a document we hope we don’t have to think about until we are much older. However, it can do more than just making financial provision for your loved ones on your death. If […]
What is a right to light? A right to light is a right to enjoy natural light that passes across another person’s land and then enters existing ‘apertures’ in adjoining buildings such as windows, skylights and other openings. These rights may be mentioned in the property owner’s title deeds or they may be implied […]
The residential real estate market has seen phenomenal activity over the last 18 months, with extreme ups and downs and not much in between. So now, after the end of the race to meet the Stamp Duty holiday deadline, the vaccine programme and ‘Freedom Day’ moving us ever closer to a realistic normality, what […]
Do you own a leasehold property? Would you like to consider extending the lease or even purchasing the freehold? At Bolt Burdon, we are specialists in this area and can guide you through the processes you need to follow to enable you to do this. Normally when you purchase a leasehold property, you will […]
The general consensus is that everyone should review their Will at least every 5 years. However, there are life changing events which will mean a review outside of this timeframe becomes necessary. These include: marriage; divorce; a change in the law; and a change in your personal circumstances (e.g. the disposal of an asset, […]
Following the promises of a ‘green Brexit’ we can finally expect the Environment Bill to become law in the next few months. The implementation of this environmental legislation will be significant, especially after all the delays caused by a general election and a global pandemic. The proposals in the Environment Bill that concern the […]
Lasting Powers of Attorney (LPAs) have long been an essential tool when it comes to planning for the future. Their very nature is to be forward facing, to prepare now for what may come later. It seems odd then, that a system which is so set on allowing us as individuals to safeguard our futures […]
On 6 July, the Government released details of a new approach to regulation designed to maximize the potential of the UK’s thriving digital economy. It is hoped this will be achieved by reducing ‘red-tape’ and simplifying policies, so that digital businesses can focus on innovation and growth. A copy of the plan can be accessed […]
It’s fair to say that neither my crystal ball nor my magic wand have been very effective in recent months. In fact, I think I have misplaced both… As the stamp duty land tax (SDLT) holiday (who on earth described this as a ‘holiday’!) ends, albeit with taper relief in place until September, one […]
As the nation moves towards restriction-free living, we are starting to see the lasting effects of the global pandemic emerging in the workplace. A push for flexible working for all and increased awareness of employee mental wellbeing are two such examples. But how much do you know about “Long Covid” and how should you treat […]
A study carried out by Direct Line in 2019 showed that 1 in 4 of people in the UK would be willing to contest a loved one’s Will if they disagreed with the provisions made for them. The recent High Court case of Hughes v Pritchard & others was a challenge to a Will on […]
The UK Government has announced an extension to the moratorium on commercial evictions, meaning landlords are unable to take action to recover possession of commercial property until 25 March 2022. The rationale for this is to allow landlords and tenants time to reach an agreement on any outstanding rent arrears which accrued during the […]
Making a gift to children or other relatives is a common tactic used to save inheritance tax (IHT). However, in some circumstances, this fails to have the desired effect and can lead to inheritance tax still being due or indeed a yearly income tax charge being payable by the person making the gift. In order […]
The pandemic has had a dramatic effect on the property market and the lockdowns have made us reflect on what’s important in a home. With commuting becoming less important, there’s been a greater focus on the outside, green space and nature. There has also been a migration from ‘city to seaside’ and this is […]
In the recent case of Miles & Shearer v Shearer [2021] EWHC 1000 (Ch), a claim was brought against the estate of Anthony Shearer. Anthony’s estate was valued at £2.2 million. The claimants were Anthony’s two adult daughters, Juliet and Lauretta, who were aged 40 and 39 at the time of their claim. Juliet […]
If you are considering buying or selling a leasehold property with a short lease length, you should think about extending the lease at the same time. A statutory lease extension enables you to extend the lease by an additional 90 years on top of the existing term. In order to qualify for a statutory lease […]
When it comes to buying and selling companies, the seller often starts with the upper hand. Because the seller already owns the company, it usually knows much more about the business than the buyer, and is in a much better position to know the company’s true value. So when the price is agreed in principle, […]
What does the UK housing market look like one year on? With the uncertainty in the UK property market when the COVID-19 outbreak began, the Government quickly implemented a number of measures to try and keep the housing market moving and to boost the economy. How successful have these measures been? Recent figures show the […]
With the nation moving through the Government’s roadmap to easing COVID-19 restrictions, many employees currently working from home across the country will soon begin their return to the workplace, if they haven’t already. Some employees will be excited to resume face-to-face contact with colleagues, customers, clients etc., whereas others will be more apprehensive, with concerns […]
As the sun comes out of its winter hibernation, it becomes more noticeable whether the light to a property has been, or might be, affected by a new building or development. A landowner may benefit from a right to light which, if established, gives the right to receive natural light through defined apertures in […]
The Equity Release Council (ERC) has launched a member endorsement mark as part of a brand refresh to reflect a more modern equity release market. The ERC (formerly Safe Home Income Plans) was established 30 years ago, bringing voluntary regulation to the equity release market and providing a greater focus on consumers. The new endorsement […]
After a largely uneventful budget and tax day last month, and as we start the 2021/2022 tax year, our resident tax guru, Michael Culver, outlines various tax exemptions, dates and limits to be aware of this year. Income Tax The income tax rates this year are as follows: Tax Band Amount of Income Rate […]
There is no doubt that the coronavirus pandemic has increased general awareness about the importance of having a Will. For many solicitors, the past year has been an extremely busy time in which they have helped hundreds of people draft and execute their Wills and plan for the future, sometimes at very short notice […]
I was just 30 on 1 May 1986 when Roger Bolt and I opened the doors at Bolt Burdon. We were so excited. Three of our staff came with us and all our clients except one said they wanted to follow us to our new firm. I remember that first day in our new office […]
A little over 12 months ago, the Government announced that commercial landlords would be prevented from forfeiting their tenants’ leases. This moratorium on forfeiture has been extended several times and, earlier this month, the Government granted a so called “final” extension until 30 June 2021. Whilst many landlords will be disappointed, this news was hardly […]
In this final part of our start-up series, we look at tips to help you navigate through e-commerce and what to do when looking to take on employees. Getting to grips with e-commerce E-commerce has grown rapidly – billions are now spent online every year. This is certainly one area that has seen growth during […]