Archive for March 2019
Stamp duty surcharge ‘could reduce house price inflation’
The government is considering a stamp duty surcharge for non-UK resident homebuyers to reduce house price inflation and provide funds to help the homeless. The Treasury is conducting a study to consider how a new 1% increase to stamp duty costs for non-UK residents buying residential property in England and Northern Ireland would work. This…
Read MoreHomeowners and tenants to get new complaints service
The government is introducing a new Housing Complaints Resolution Service to cover the entire housing market. It means that dissatisfied homeowners and tenants will have simple and quick access to help when things go wrong. The new service will cover everything from broken boilers to cracks in the wall and will potentially help millions by…
Read MoreCourt corrects costly tax error in family’s trust fund
The High Court has allowed a family to correct an error in a trust fund that would have had costly tax implications. The case arose out of financial arrangements outlined in the will of a man who died in 2015. He bequeathed £4.2m to be held on trust for the benefit of his widow and…
Read MoreCourt outlines the scope of lasting powers of attorney
People setting up Lasting Powers of Attorney (LPAs) to protect their interest in case they lose mental capacity in the future should be given as much scope as possible to outline their wishes. However, an instruction that their attorney – the person they appoint to look after interests – should help them in an assisted…
Read MoreHomeowners and tenants to get new housing complaints service
The government is introducing a new Housing Complaints Resolution Service to cover the entire housing market. It means that dissatisfied homeowners and tenants will have simple and quick access to help when things go wrong. Communities Secretary James Brokenshire said the new service will cover everything from broken boilers to cracks in the wall and…
Read MoreGold-Diggers are ‘marrying to exploit the elderly’
Campaigners have introduced a bill in parliament to prevent gold-diggers exploiting the elderly and the vulnerable by marrying them for the sole purpose of inheriting their estates. Under the law as it stands, a person’s will is automatically invalidated when they marry. This means that unless they make another will, when they die they are…
Read MoreA delay in dealing with wills and probate could now prove costly
Changes being introduced by the government could prove costly for families who haven’t yet dealt with the estate of a family member who died recently. The issue arises because since 2007, surviving spouses have automatically inherited the unused inheritance tax allowances of their dead partner. This has led some people to delay applying for a…
Read MoreNew agreements to ‘reduce house sale failures’
The government is planning a new system for buying and selling homes that it hopes will reduce the number of failed transactions. Currently, house buyers can have an offer accepted for the purchase of a home but then pull out at the last minute causing then pull out at the last minute causing great inconvenience…
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