Leasehold Law Reforms Included in the King’s Speech
This article discusses the UK government's plan to introduce a bill phasing out some leaseholds, targeting new houses, capping ground rents, and altering standard lease extension terms to promote home ownership and address exploitative practices.
Lease Variation and Lease Surrender
Tax implications in lease variations hinge on who pays whom. Lessee payment for a favorable variation is capital expenditure, while lessor payment for lease surrender is a premium, with tax nuances based on lease terms. Reverse lease surrender yields lessee...
Service Charge Shock: Leaseholders Stunned by Massive Payment Demands
This article discusses the 8% surge in the average annual service charge, reaching £7.6 billion annually for 5.4 million flat owners in England and Wales, with considerations for variations in charges based on property size and location, and the potential...
