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Conveyancing    No Comments

When selling a commercial property the buyer’s solicitors will almost always raise standard enquiries in the form of the Commercial Property Standard Enquiries (“CPSE’s).

One of the questions contained in the CPSE’s is what capital allowances the seller has made. Most clients’ and their accountants struggle to give a definitive on this.

What are capital allowances?

Well it’s not often that you get something for nothing especially from the Government but HMRC are doing exactly that in the form of capital allowances.

Recent studies have shown that over 90% of businesses don’t claim on capital allowance tax relief, which can equate to over 30% of the building’s purchase price.

The principle of claiming capital allowances is basically reporting to HMRC and claiming back a proportion of what the fixtures (provided they qualify) in the property is worth against your company’s taxable profits.

This can also apply for refurbishment of properties as well.

This is a fairly specialist area of law and as such you may find that your accountant is not comfortable giving answers on this.

If you are thinking of selling your commerical property and want some advice on this or answering any queries that have been raised why don’t you drop me a line on either 01623 451111 or wjames@fidler.co.uk.

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Uncategorized    No Comments

More and more people are replacing their green lawns with gray tarmac in their front gardens especially in urban areas.

Although local authorities have an obligation to ensure that the traffic flowing through our cities keeps moving they have no such obligation to ensure that homeowners have adequate parking facilities.

As such the modern trend is that motorists and homeowners are facing an ever increasing shortage of parking spaces which in line with increasing vehicles owned will become ever more desperate.

If you are considering converting your front garden to use to park your car you must be aware that it may require planning permission. You will also need to consider the type of materials that you will use. With the recent heavy rain the country has been experiencing this has led to flooding of our streets as home-owners gardens are no longer absorbing the water coming down.

If you are thinking of converting your garden from Green to Grey and want some advice why don’t you contact Fidler & Pepper on either 10623 45111 or email at wjames@fidler.co.uk

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Commercial property sale    No Comments

The return of the commercial HIP?

One of the areas that client’s get most frustrated about when starting a new commercial transaction is the length of time  it can take filling out all the paperwork at the start of the transaction.

However, there is a rather obvious solution to reducing the time the whole process takes.

Some of you may remember that HIP’s were introduced a few years back for residential property transactions. They received a bit of a bad press but in principle were actually quite a good idea. I think people objected most to the fact that it cost them money to do put them in place initially.

Fundamentally though completing documents associated with the sale prior to actually finding a buyer e.g. When the property is first marketed is actually a really good idea. It allows all the aspects of the sale to be discussed and resolved well in advance and also to identify any problems that the property may have and resolved in plenty of time before the buyer is found.

As such Fidler & Pepper have started to try and persuade agents and clients to complete all the forms associated with a commercial transaction as soon as the property is marketed.

This allow contracts to go out as soon as a buyer is found, irons out any problems that the property may have and overall means that the transaction time is greatly reduced.

Best of all its Free!

If this is something that interests you then give us a call on 10623 451111 or email at wjames@fidler.co.uk to find out more.

 

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Uncategorized    No Comments

I’ve recently had some matters come through the Fidler & Pepper door where client’s want to sell their deceased parents property but the title deeds have been lost or cannot be found.

What do you do?

The first question to ask or investigate is whether the property is registered. If it is then usually it is a matter of approaching the Land Registry and obtain a copy of the Official Copy of the Register (confirmation of the title deeds).

Things get a bit more complicated when the property is unregistered.

Essentially you will have to make an application to the Land Registry to register the property based on evidence of ownership. This can be done through statements of truth (documents signed by the person making the application that a certain set of facts are true)  establishing the owners right of ownership to the property and any other evidence that can be found establishing the persons ownership such as utility bills, council tax bills etc.

The Land Registry may want to come out to inspect the land or property also.

If the Land Registry accept your application they will only usually grant a possessory title.  This is a half way house between full legal title which is absolute title.

If you have found yourself in this situation and want to have an informal chat then please visit our website at www.fidler.co.uk or drop me a line on either wjames@fidler.co.uk or 01623 45 11 11

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