Litigation & Expert Witness
Unfortunately disputes between landlords, tenants, managing agents or neighbours can sometimes arise. When they do they can easily escalate leading to potentially expensive and time consuming litigation. At LBB we have a number of Chartered Surveyors who have considerable experience and expertise in dealing with property related disputes. John Byers and Justin Bennett deal with […]
Inheritance Tax & Probate
This is the tax that is paid on the ‘estate’. That is the property left by somebody upon their death. HM Revenue and Customs (HMRC) state that you need to value the property (‘the estate’) of someone who has died before you can get the legal right to deal with the estate (known as ‘grant […]
Market Valuations
Property ownership can contain many pitfalls and obtaining good, professional advice on a building’s condition, value, lease or title arrangements is essential. So as you avoid costly mistakes and make the best of your property, we are able to provide expert and thoroughly professional advice. Our Chartered Surveyors are RICS Registered Valuers. We offer advice […]
Capital Gains Tax Valuations
Under the Taxation of Chargeable Gains Act 1992 you may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell property that is not your main home. At LBB our experienced valuers can help you work out your ‘gain’ for tax purposes. Your gain is usually the difference between what […]
Annual Tax on Enveloped Dwellings
ATED is an annual tax payable by companies, partnerships or trusts that own residential property in the UK. The dwelling, or property, is called “enveloped” as the ownership sits within a corporate ‘wrapper’ or ‘envelope’. Tax is paid on the value of the property, based on a band system. The bands are as follows: £500,001 to […]
Building Surveys
“A survey not only offers peace of mind, but could potentially save you thousands of pounds in costly repair bills in the future.” – Royal Institution of Chartered Surveyors We offer full building surveys (the Level 3: RICS Building Survey) for a huge range of houses, flats and various commercial buildings Our surveys have included […]
Flats
Collective Enfranchisement – Getting Started
Starting out If you can apply to buy your freehold, i.e. enfranchise, as with extending your lease, the most crucial time is before your leases drop below 80 years. Below 80 years, the level of premium paid for the freehold increases and you share any profit (marriage value) with the landlord. In order to start the process […]
Flats
Collective Enfranchisement – Your Questions Answered
What are Qualifying Premises? A self-contained building or part of building. There must be 2 or more qualifying tenants. The total number of flats held by such tenants must not be less than 2/3rds of the total number of flats contained in the premises. What are Excluded Premises? These have parts with non-residential use – i.e. internal […]
Enfranchisement of Houses
The Leasehold Reform Act 1967 as amended by the Commonhold and Leasehold Reform Act 2002 enables tenants of houses on long leases to enfranchise (acquire the freehold of) their properties. The valuation of the purchase price of the freehold (enfranchise price) a house is more specialised than that for flats. Surprisingly after all these years, […]
House
Enfranchisement: Relevant Details Explained
Entering the world of Leasehold Reform can be a daunting and confusing journey. We attempt to explain some of the common terms and valuation factors that are often used when discussing this subject. Qualification There are three issues that need to be addressed: In order for the building to qualify, it must be a ‘house’ and […]
