U.K.’s Office of Tax Simplification Takes Aim at Inheritance Tax The Office of Tax Simplification (“OTS”) is reviewing the UK’s Inheritance Tax (“IHT”) regime, with specific focus on both process and administrative issues associated with IHT. It is also looking at more technical areas including disclosure, estate planning and the plurality of available reliefs. The…
Many owners of long-leasehold houses have the right to buy their freehold under the 1967 Act. A similar right may be available to a group of owners of long-leasehold flats in a block to buy their freehold under the 1993 Act.
We advise on the various elements of each of these processes, including:-
- assessing eligibility
- instructing valuers and surveyors
- financing the purchase
- participation agreements
- the statutory notices
- attendance at tribunal
- the creation of new long leases for applicable flats following enfranchisement
Enfranchisement is not a one-sided and inevitable process. We advise freeholders, intermediate landlords and management companies on their rights and responsibilities throughout the process.