Housing Transactions rise according to HMRC – 25th March 2010
HMRC month residential property transaction figures indicate that the last quarter and the last month have had considerably more housing transactions than for the same period in 2009. Residential property transactions in February 2010 for England were 51,000 transactions against a prior year figure of 37,000 for February 2009 though both these figures remain considerably […]
Stamp Duty change -25th March 2010
Stamp Duty threshold changes for first time buyers are effective for completions today. First time buyers will have the threshold for stamp duty raised to £250,000 but it remains a little unclear how a first time buyer will prove the requirement that they have never owned a property solely or jointly anywhere in the […]
Potential Class Action against Skipton Building Society -24th March 2010
Skipton’s decision to withdraw from its “guarantee” standard variable rate promise has resulted in a letter before action suggesting a potential class action. Many lenders are facing the daunting prospect of having borrowed money on short term arrangements and then on lent long term mortgages at fixed rates or with future promises within their contracts […]
Savills demonstrate market improvement but sound note of caution – 20th March 2010
Whilst UK residential property only accounts for 13% of Savills global revenue conveyancers may be surprised to learn that Savills saw this area of its business as a key success story last year. Revenues grew by 11.1% but profit before tax for UK residential property grew by a staggering amount. It rose from £2.8M in […]
UHY Hacker Young warn Tax man is using HMLR data – 21st March 2010
UHY Hacker Young a top UHY Hacker Young a network of accountancy firms incorporating over 88 partners reports that HM Revenue and Customs appear to be adopting a new technique of trawling HMLR data to discover under reporting of capital gains in tax returns when properties have been bought or sold. Geoff Davies, Partner at […]
