The following Private Client practice note provides comprehensive and up to date legal information covering:
FORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek views about capital gains tax. The call for evidence comes in two sections: the first seeks high-level comments on the principles of CGT by 10 August 2020, while the second and primary section of the document invites more detailed comments on the technical detail and practical operation of CGT by 9 November 2020. Although the results of the survey and consultation are not yet known, it is worth bearing the proposals in mind when considering and advising on CGT.
This Practice Note outlines the circumstances in which trustees of a settlement or the personal representatives (PRs) of a deceased person may claim principal private residence (PPR) relief from capital gains tax (CGT) in respect of property held in a settlement or in an estate. For details of PPR relief generally and how it applies to individuals, see Practice Note: CGT—PPR relief.
Section 225 of the Taxation of Chargeable Gains Act 1992 (TCGA 1992) extends the PPR exemption in TCGA 1992, s 222 to disposals of settled property where, during the period of ownership by the trustees, the dwelling house has been the only or main residence of a person entitled to occupy the property
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The Public Private Partnership (PPP) models are a popular way for governments to involve private investment, expertise and risk in procuring infrastructure, with the potential to deliver a project more efficiently and economically. One of the most popular PPP models for procuring infrastructure
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
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