UK Office of Tax Simplification Takes Aim at Inheritance Tax Death duties were first introduced, in their modern form, back in 1894 when the government introduced estate duty, a tax on the capital value of land. Estate duty was eventually replaced by Capital Transfer Tax in 1975, which introduced the concept of tax on lifetime…
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.