1 March 2011 by Louise Dawson

Stamp Duty Increase

Last year’s budget may feel like a distant memory, however, the effects are about to hit the pockets of property buyers.

From 6 April 2011, stamp duty land tax (SDLT) on residential properties over £1m will increase from 4% to 5%. SDLT is triggered on the completion date and therefore the date of exchange of contracts is not relevant to whether the increase applies or not.

This increase applies to the whole purchase price i.e. not simply the amount over £1m. So from 6 April, the SDLT due on a property with a purchase price of £1.5m will increase from £60,000.00 to £75,000.00.

If you are a property buyer and you are wondering whether to put in your offer, you may still just have time to complete the purchase before the increase but you need to act quickly.

7 February 2011 by Louise Dawson

Seller bound by e-mail contract

The case of Nicholas Prestige Homes v Neal has recently been heard by the Court of Appeal. In this case, Mr Neal had entered by email into a sole agency agreement with Nicholas Prestige Homes to sell his property.

22 February 2011 by

Filing tax returns

In the Crown Court the judge originally described Gareth Steed’s activities as “moonlighting”, i.e. legitimate trading which he failed to […]

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