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 […]
Following last week’s guidance on how to get your new business legally ready, this week we look at some ways to protect your business and potentially increase its value. Intellectual Property Every start-up will have some intellectual property (IP) which is valuable. Whether it’s your business name, logo or the product you are selling, it […]
2020 was a difficult year, but many positives also came out of it – less commuting, less pollution, more banana bread. There were also nearly half a million new businesses created in the UK during 2020 which, according to Companies House, is the highest number on record. Necessity is known to drive innovation, and whether […]
The silence in many homes across the country has been deafening this week as children return to school in the first stage of lifting the Lockdown. With Brexit done; the Budget done; a roadmap in place for a return to “normality”; and the vaccination program starting to make inroads into the working population, employers really […]
It may not be much of a surprise after weeks of speculation, that Chancellor, Rishi Sunak, announced in the 2021 budget that the current Stamp Duty Land Tax (SDLT) holiday will be extended until 30th June 2021. The SDLT holiday was introduced last July, following the start of the Covid pandemic, to stimulate the property […]
If it feels as though the Uber case has been rumbling along for some time, it has. First heard in the Employment Tribunal in 2016, the case has made its way up through numerous (unsuccessful) appeals finally arriving at the Supreme Court. After months of waiting for a decision, on 19 February 2021 the Supreme […]
The owner of a beloved dog known as Lulu has left a jaw dropping sum of £3.6 million in trust for the dog’s benefit. The sum has been set aside to provide for Lulu’s care. She is currently residing with her late owner’s friend, who will be reimbursed for the monthly expenses she incurs for […]
Section 84 of the Law of Property Act 1925 is an important piece of legislation for developers. It gives the Upper Tribunal the power to discharge or modify restrictive covenants on land. On 6th November 2020, the Supreme Court handed down its judgment in the case of Alexander Devine Children’s Cancer Trust v Housing Solutions […]
The Stamp Duty Land Tax (SDLT) holiday was introduced last July to stimulate the property market following the first Covid lockdown. It certainly achieved this objective, as the market has been buoyant ever since with large volumes of transactions. However, there is concern about the impending SDLT holiday deadline on 31st March 2021 and whether […]
Current Position Capital Gains Tax (CGT) is essentially a tax on profit on chargeable assets such as property and shares. It can apply to gifts (when no cash changes hands), destruction (when insurance pays out) and sales of items. In relation to property, if you sell your only or main residence, and buy another, you […]
Jean Clitheroe was the mother of Debra, Susan and John. Debra sadly passed away on 19 December 2009 following a battle with cancer. After Debra’s death Jean instructed solicitors to prepare two wills – the first on 21 May 2010 (‘the 2010 Will’) and the second on 3 December 2013 (‘the 2013 Will’). Both of […]
It’s difficult to take positives from the latest lockdown, but one glimmer of a silver lining could be the opportunity to tackle a long overdue home DIY project. However, tenants are strongly advised to check if their landlord’s consent is required before reaching for the tool kit… How do I know if I need consent? […]
Review and update your flexible and agile working policies and procedures for your employees to prepare for the ‘new normal’ in 2021. With multiple lockdowns and nationwide messages to ‘stay at home, save lives’ over 2020, and now into 2021, in response to the global pandemic, the way we work (and where we work) has […]
With the Stamp Duty Land Tax (SDLT) holiday end date in sight, it’s worth noting that from 1 April 2021 there is the introduction of a new rate of SDLT for non-UK resident buyers of residential property in England and Northern Ireland. Although official guidance has not yet been issued, the current proposals are as […]
Last week I wrote about how Bolt Burdon has coped during the pandemic. This week I would like to share a few of my personal hopes for the wider world for 2021. As I write this our national vaccination program is well underway, and there is hope that by the Spring our lives can return […]
This is my final Bolt Burdon Christmas before I retire in March 2021. I am delighted to write our e-news this week and next and share some thoughts. This week I want to share our own Bolt Burdon story of the pandemic. Next week I will share my hopes for the wider world for […]
With all the changes around evictions since March, it is no surprise that landlords and tenants alike are unsure of what the current rules are. We have set out below a snap shot of the most recent position. Residential Section 21 notices requiring possession under an assured shorthold tenancy: The main change to the Housing […]