The following Tax Q&A produced in partnership with Sean Randall of Blick Rothenberg provides comprehensive and up to date legal information covering:
The stamp duty land tax (SDLT) treatment of a surrender and regrant of a lease over commercial premises is potentially very different to the SDLT treatment of the grant of a reversionary lease over commercial premises; though, both achieve the objective of extending the term of the lease.
Where a lease is varied so as to extend the term of the lease, the variation will take effect as a surrender and regrant. This means that both parties to the lease, the landlord and the tenant, will acquire a chargeable interest for SDLT purposes. The landlord will acquire the surrendered lease and the tenant will acquire the regranted (or new) lease. Normally a special set of rules applies to an ‘exchange’ of chargeable interests like this, which deem the chargeable consideration for each to be no less than the market va
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Tipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities so that they could take steps to cover up their misdeeds or disappear.
Community order requirementsCommunity order requirements are set out in the Criminal Justice Act 2003 (CJA 2003), as amended by the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO 2012) and the Offender Rehabilitation Act 2014 (ORA 2014). Criminal Justice Act 2003, s 152(2)
Overlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover, whether deliberately or otherwise.Examples include the situation where the insured takes the benefit of other insurance arranged by another party or where, in the commercial world, risk
This Precedent letter covers disclosure obligations under CPR 31. It does not apply to proceedings subject to the disclosure pilot scheme under CPR PD 51U. For guidance on the disclosure pilot scheme, see Practice Note: Business and Property Courts—the disclosure pilot scheme. For a client letter on
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