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Non-UK residents now subject to tax on gains on commercial property

Posted by , Partner

A significant change to the taxation of non-UK residents came into effect on 6 April 2019 which means gains on all UK property* (commercial as well as residential) are subject to UK tax. Gains on disposals by individuals and companies will be within the scope of UK tax. The changes are wide reaching as the rules can apply to direct disposals but also to disposals of shares in property rich companies.

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High Court rules that Brexit cannot frustrate commercial leases

Posted by , Trainee Solicitor

Commercial landlord

Commercial landlords have received some welcome certainty with regards to Brexit. The High Court has ruled that tenants will not be able to use Brexit as an excuse to break their lease.

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Landlord Update – changes from the 1st October 2018 in accordance with the Deregulation Act 2015

Posted by , Trainee Solicitor

Landlord house royds withy king

This is the second blog in our series of ‘Landlord Update’.

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Property development overage – another cautionary tale

Posted by , Partner

overage property development royds withy king

Overage is a common method for sellers to realise increased value for their land where, for example, a planning permission is subsequently obtained for development of the land. Properly drafted, an overage agreement can work for both parties by maximising value for the seller and de-risking potential overpayment by the buyer. However, it is vital that the agreement is clear as to what overage will be payable, on what basis and when. Mistakes can be costly!

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Development agreements – a key clause for landowners to ensure compliance

Posted by , Partner

As a landowner, when you enter into a contract with a developer – whether it is an option agreement, promotion agreement, land development agreement or a hybrid of these – you do so in the expectation that they will largely fulfil their obligations without the need to go to law to enforce them. But what if they do not?

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Common issues in leases of retail premises

Posted by , Senior Associate

The Retail sector team at Royds Withy King deals with all manner of commercial issues; one of our particular specialisms is acting for well-known retailers in leasing new or alternative premises all over the country. The nature of such lettings raise a number of issues that may need to be dealt with if a retail lease is to be fit for purpose.

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Consultation on revised Lease Code: what does this mean for landlords?

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The Royal Institute of Chartered Surveyors (RICS) published a consultation on “Code for leasing business premises” which includes a new proposed lease code. The proposed Code will replace the current Code for Leasing Business Premises in England and Wales 2007 which is voluntary. The proposed code contains both mandatory and best practice requirements and there are possible implications for failing to act in accordance with the proposed Code.

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Landlords – does the Pre-Action Protocol for Debt Claims apply to your dealings with tenants?

Posted by , Partner

The Pre-Action Protocol for Debt Claims has been in force since 1 October 2017 and sets out rules to follow when any business is claiming payment of a debt from an individual. This covers a debt payable from a tenant to a landlord, whether in respect of rent or other sums due under the lease.

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The Government’s latest action to fix “the broken housing market”

Posted by , Partner

The Government has recently published its draft revised National Planning Policy Document and is consulting on it until 10th May. It sees this revised policy as a key step towards achieving its goal of 300,000 new homes being built every year. It seeks to make a number of important changes and a few key ones are highlighted in this article.

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Business rates: welcome clarity for commercial landlords

Posted by , Senior Associate

It has been a very active few years with a Valuation Officer arguing all the way to the Supreme Court that a property should not be reassessed for business rates when redevelopment works were being undertaken and preventing occupation, because the property was capable of being put back into the state of repair and occupied position at the material assessment date.

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Estate agents take note: the different forms of agency contracts explained

Posted by , Solicitor

When acting for the vendor, you will typically market the property for sale, or offer the premises to let. You will have a written contract with the vendor, which will spell out, among other things, the terms upon which you are entitled to your fee. The contract is therefore essential.

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Are you up to speed on energy efficiency regulations?

Posted by , Partner

If you are an existing investor in commercial property, you will probably be very familiar with the Energy Efficiency Regulations 2015 and will have taken all appropriate steps to lessen their potential impact. If you haven’t or you are considering a property investment, then this may be for you.

The Regulations, officially titled Energy Efficiency (Private Rented Property)(England and Wales) Regulations 2015, begin to bite in relation to the letting of commercial properties on 1 April 2018.

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