HMRC has today published Revenue & Customs Brief 11 of 2020 (RCB), concerning the VAT treatment of lease variations. The RCB represents a change in the way HMRC have treated lease variations for VAT purposes where the landlord reduces the rent and the tenant agrees to give up or vary their break right. Although Read More
The Land Registry has announced this morning that, with immediate effect and until further notice, they will accept for registration transfers, leases and certain other deeds which have been electronically signed.
Twelve weeks ago, when the Land Registry announced that they would register deeds which had been signed ‘virtually’ using the “Mercury” protocol, practitioners across Read More
In all the COVID chaos it is easy to forget about cyber security vulnerability and that the UK real estate industry remains exposed to cyber attacks through inadequate security systems and lack of preparedness. The fundamental unsuitability of both institutional leases and standard buildings insurance policies to address cyber attacks that cause non-physical damage leaves Read More
Just like buses and government slogans, it seems that Law Commission reports on the future of residential property in England and Wales come in threes. Following separate, lengthy consultations, the Law Commission has this week published its proposals for reforming leasehold enfranchisement, tenants’ statutory right to manage (“RTM”), and Commonhold ownership.
It is estimated that Read More
The Upper Tribunal has, reluctantly it is fair to say, found that telecoms operators in situ under agreements granted under the old Code but which expired before the new Code came into force have no Code protection and are unable to apply for fresh Code rights. This leaves a landowner free to serve a removal Read More