HMRC has issued a further warning to self-employed people not to be duped by umbrella companies offering to boost their take-home pay by limiting their tax liabilities and paying them through loan or investment arrangements. HMRC said: “These types of arrangements are likely to result in you paying additional tax, interest and perhaps penalties, and are never HMRC approved.”

The Daily Telegraph

Posted 21/09/2018

Sir Bruce Forsyth left his entire £11.7m estate to his wife, who took over control of Bruce Forsyth Promotions a month before he died. The move meant 40% IHT did not need to be paid. He left nothing to his children but Lady Forsyth is now free to give away £650,000 without paying extra in tax. The legendary TV presenter was outspoken about IHT, saying once that he thought it was “over the top”.

Daily Star, Page: 7 Daily Express, Page: 3

Posted 20/09/2018

Under plans being announced today by the Law Commission the minimum period a leaseholder must wait before buying a freehold, currently two years, will be scrapped and leaseholders will be able to extend for longer, as many times as they wanted and more cheaply.

The Times, Page: 6

Posted 20/09/2018

The Royal Institution of Chartered Surveyors (Rics) has argued a housing tax overhaul, including ending stamp duty on certain properties, could rebalance the market and “reignite activity”. It said the Government should look at what changes are needed to create a more vibrant property sector with a full-scale review of the stamp duty system.

I, Page: 43 Yorkshire Post, Page: 9

Posted 19/09/2018

Landlords affected by the government’s new “house in multiple occupation” (HMO) rules must apply to their local authority for a licence by October 1 or face unlimited fines and possible criminal prosecution. The Residential Landlords Association said the change would result in 177,000 more landlords needing an HMO licence, for homes in which at least two households share facilities – such as a kitchen or bathroom.

The Daily Telegraph

Posted 18/09/2018

 

The Independent’s Ben Chapman reports on how criminals are targeting university towns to buy property and launder money because local agents are often less alert to laundering risks and the market is relatively stable. Mark Hayward, chief executive of NAEA Propertymark, says thousands of estate agents operate without proper oversight. Analysis of Companies’ House records by Moore Stephens found there were 25,560 estate agent businesses in July last year, yet only 11,318 are registered with HMRC for anti-money laundering purposes.

The Independent, Page: 14

Posted 16/09/2018

According to a new survey, two-thirds of leasehold homeowners feel they were mis-sold the properties they are living in. NAEA Propertymark surveyed more than 1,000 people in new leasehold houses, and found 94% said they regretted their purchase. The survey revealed that 65% used the solicitor their house builder recommended – and 15% of those say they weren’t told they weren’t buying the freehold. Nearly half didn’t know they were only buying the lease until it was too late, and 57% didn’t understand what being a ‘leaseholder’ meant until they had completed the transaction.

Daily Mail

Posted 14/09/2018

The Mail issues a warning to readers considering using cheap will-writing services that claim to save people time and money by cutting out solicitors. It says budget DIY wills can include enormous hidden fees and extra charges.

Daily Mail, Page: 44

Posted 12/09/2018

Ministers have refused to disclose whether they have taken legal advice on holding a fresh referendum on the final Brexit deal, arguing that revealing such detail would harm the UK’s negotiating position in Brussels.

The Independent, Page: 9

Posted 11/09/2018