Capital Gains tax changes for residential property

Capital Gains tax changes for residential property

A reminder that the rules for paying Capital Gains tax after selling qualifying residential property are changing from 6th April 2020. From this date, any UK resident must inform HMRC about the gain and the tax must be paid within 30 days of completion. This...
Stamp duty surcharge for overseas buyers in 2020 budget

Stamp duty surcharge for overseas buyers in 2020 budget

The Chancellor has announced in his budget of 11th March that there will be a 2% stamp duty surcharge on the purchase of property by non-resident overseas buyers. The change will come into effect on 1 April 2021 and is payable in addition to the three percent...
Digital mortgage services reaches milestone

Digital mortgage services reaches milestone

The Land Registry has announced that the 7000th re-mortgage deed was signed and registered digitally in February 2020. This follows the registration of the first digital mortgage in April 2018. This service was introduced by the Land Registry to reduce paperwork and...
Commonhold on hold?

Commonhold on hold?

Commonhold is an alternative to leasehold ownership and the idea behind it is that it allows a person to own a freehold flat, and be a member of the company which owns and manages the common parts and structure of the building. It was first introduced in 2002 but has...
Leasehold reform

Leasehold reform

When selling a leasehold property, particularly in a professionally managed block of flats, the managing agent needs to supply information that is required by the buyer’s solicitor and will charge a fee for doing so. This fee varies but it usually amounts to a few...
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