Generally, a bankruptcy order will be automatically discharged 12 months’ after it is made. However, it is open to a Trustee in Bankruptcy to apply for the automatic discharge to be suspended, usually on the basis that the bankrupt has…
What is SDLT? When buying a property (whether freehold or leasehold) or renting a property, the Buyer or Tender must pay SDLT unless an exemption applies. The thresholds for paying SDLT is over £150,000.00 for commercial properties and over £125,000.00…
The Government has announced that, with effect from April 2019, the Court fees for obtaining Probate could cost up to £6,000, whereas the current fee is less than 5% of this amount. What is Probate? When someone passes away the…
Most commercial leases have a clause which entitles a landlord to terminate the lease by forfeiture if the tenant breaches its obligations. Once the right to forfeit arises, if a landlord acts in a way so as to treat the…
The world is becoming more digitised and inter-connected as information and communication becomes more accessible and simpler to manage. Platforms such as Facebook, Twitter, Instagram, WhatsApp and iTunes, amongst others, allow us to access, share and store messages, images and…
Landlords of Houses in Multiple Occupation must Register for New Licences or Risk Fines If you’re a landlord responsible for Houses in Multiple Occupation (HMO) you need to apply for a maximum five year licence or risk unlimited fines. New…
The death of beloved comedian, Ken Dodd, last week has shone a light on the Inheritance Tax rules and the importance of planning your estate correctly. The late comedian married his long-term partner of over 40 years just two days…
As advisers to many companies and company directors and shareholders, the Vyman team thought you would be interested in the following Supreme Court case. Burnden Holdings (UK) Ltd v Fielding (28 February 2018) In short, the directors of the company had…
ONS figures show that cohabiting couples are the fastest growing family type in the UK, but the legislation has not moved with the times. When Bhadrak Reddy (34) moved into a flat in Harrow five years ago with his then…
With effect from 22 November this year first-time buyers of residential property will not be liable to pay stamp duty on the purchase of properties up to £300,000 and the first £300,000 of properties up to £500,000 Key points: The…