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…
We regularly act for the owners of flats and houses who wish to extend their leases – whether under the statutory procedures laid out in the 1993 Act and the 1967 Act; or where the rights under the Acts do not apply (particularly on The Crown Estate), and where a Landlord is prepared to grant a lease extension outside the formalities of the Acts.
We will advise you on the eligibility criteria, the choice of a valuation surveyor, and will deal with the necessary notices throughout the process. We work closely with our Litigation team, if attendance at the Tribunal is necessary. At the conclusion of the process we handle the drafting or amendment of the lease extension document, and the stamp duty, registration and mortgage formalities.
Lease extension is not an inevitable and one-sided process: because of this, we are retained as advisers to many freeholders, intermediate landlords and management companies in connection with their rights and responsibilities.