EG 03-08-1907-08-2019, 09:31
p.51 Enfranchisement - goes briefly through the historic reasons why the different regimes exist (LRA67, LRHUDA93 & CLRA02) and why it isn’t fair and calls for a simple and accessible solution with lower costs involved
P.52 Landlord’s works - who repairs - and who ultimately pays? Looks at the Blue Manchester case where the freeholder who bought the reversion for £400k is facing a bill of several million for defecting construction/design issues that it cannot recover from the tenants under the service charge & the contractor (Carillion) has gone bust. Careful thought is needed is when buying reversions and negotiating leases
P.54 Telecommunications Code case again! EE v Meyrick trust case - landlord couldn’t prevent EE getting code rights for a new mast by argue 'intention to redevelop’ by building their own mast! (Franses case applied)
P. 54 Resting on contract Stamp Duty scheme - remember them pre-2003 (not SDLT - I wish people would stop calling SDLT ‘stamp duty’ as it ISN”T). This endured for a new purchaser of the beneficial interest Re Charlotte St Properties Ltd 2019, meaning that the trustee owner held on trust for the new one, who could be required to transfer the freehold to the new owner
P. 55 New Structures and Buildings Allowance rules (SBA) came into force on 4th July 2019. This allows owners to claim back 2% per year over 50 years (so 100%) of the cost of construction, renovation or conversion of commercial property. It can be passed on to buyers. So buyers need to ask about this and pass it on to appropriate tax advisers to deal with and it may be contract provisions are needed to deal with this, like with Capital Allowances
P. 56 Anti Money Laundering. Estate Agents need to stop being complacent and take it more seriously. )Tell me about it..). However HMRC have announced a crack down on them.
P.57 Exercising Break rights under Housing Act 1988. For those advising Private Registered Providers of Social Housing (PRPSH). They are not required to give T a 6 month notice when exercising a break clause on an AST of 2 years or more.