One of the bigger surprises in this year’s Autumn Statement was the news that the much consulted upon new ‘Settlement Nil Rate Band’ has been dropped. One of the reasons for proposing a Settlement Nil Rate Band was to make the use of multiple trusts less attractive for Inheritance Tax (IHT) mitigation purposes. Each trust […]
As we know, liability for rates falls on the person entitled to occupation, normally the tenant in relation to leasehold property. That applies whether or not the tenant is in actual occupation of the property. The tenant is the person entitled to occupation and liability therefore rests with the tenant. If a building is not […]
Parties spend significant time (and costs) agreeing the terms of construction contracts. But only when a contract is correctly executed and dated will those agreed terms come into effect and a party be able to enforce its rights. Failing to execute contracts correctly can have significant consequences. It can create uncertainty as to the correct […]
The death of L’Wren Scott aged 49 in March 2014 made headline news but the contents of her will (leaving everything to Sir Mick and specifically nothing to her adoptive family) were equally well publicised. Gone are the days when wills are read out by the family solicitor in front of a gathered assembly of […]
FIDIC is the acronym for Fédération Internationale des Ingénieurs-Conseils, which is the French language name for the International Federation of Consulting Engineers. FIDIC has been around for 101 years and is principally an organisation which acts in the interests of, and educates and informs, its members. Each member is the national association of consulting engineers […]
The Commercial Agents (Council Directive) Regulations 1993 entitle commercial agents to an indemnity or compensation on termination of their agency contract, and the right cannot be excluded. This can come as a surprise to principals outside the EU who are unfamiliar with the concept. In a landmark case, in which Fladgate acted for the claimant, […]
Since 2007, landlords who take a security deposit from an "assured shorthold" tenant (most short residential tenancies are assured shortholds) have had to protect the deposit. The landlord protects the deposit either by registering it with an insurance-based scheme or, alternatively, by lodging the deposit with a government approved custodian. The landlord must also serve […]
My 24 April 2014 blog reported that buried within the Government’s March 2014 consultation on extending Capital Gains Tax (CGT) to non UK residents was a change to CGT Principal Residence Relief (PRR) affecting UK residents. Last week, the Government published its response to the consultation and confirmed that PRR is set to change. The […]
Fraud is estimated to cost the UK economy more than £50 billion and cybercrime nearly £30 billion annually. Fraud, bribery and corruption can be internal, committed by an employee or senior manager, or external, committed by suppliers and customers (though external frauds often require insider assistance). Types of fraud include: asset misappropriation (theft of cash, […]
The UK Government has now confirmed that UK Capital Gains Tax (CGT) will be extended to residential property owning non UK residents (NR) from April 2015. UK residential property only The new, extended CGT will apply to UK residential property only and will include land that is part of the garden or grounds of a […]
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