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Cash searches—checklist

Cash searches—checklist Code of Practice The search powers covered in this Checklist are subject to the Recovery of cash: search powers, code of practice under section 292. Cash search powers A police, immigration, customs, Serious Fraud Office (SFO) officer or an accredited financial investigator (the relevant officer) may only exercise the power to search where the following criteria are met: Premises • the relevant officer must already have lawful authority to be present on the premises either under another statutory power or by invitation • the relevant officer must have reasonable grounds to suspect that cash is on the premises that is either recoverable property or is intended for use in unlawful conduct, see Practice Note: Cash searches under the Proceeds of Crime Act 2002 • the relevant officer must have reasonable grounds to suspect that the amount of cash is greater than the statutory minimum amount of £1,000 Vehicles • it must appear to the relevant officer that the vehicle is under the control of a person (ie the...

GAAR guidance: examples of non-abusive transactions—checklist

GAAR guidance: examples of non-abusive transactions—checklist The GAAR guidance aims to help interpret and apply the general anti-abuse rule (GAAR). This is why the GAAR guidance includes in Part D various examples to illustrate the types of arrangements HMRC considers should escape the GAAR and those which it considers should be caught by the GAAR. The current version of the GAAR guidance, as well as previous versions of the guidance, are available online (see: GAAR guidance). Part D of the GAAR guidance (which is dated 11 September 2020) contains the majority of the illustrative examples, but some are found in other parts of the guidance too. For ease of reference, the table in this Checklist: • pulls together • in one place • a list of the arrangements: ◦ referred to in any part of the GAAR guidance ◦ in respect of which HMRC has indicated it would not pursue counteraction under the GAAR (although note that much of the legislation underlying the examples has changed since the examples were...

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What rate of SDLT applies to my transaction?—Flowchart

What rate of SDLT applies to my transaction?—Flowchart This Flowchart assists with establishing which rate of stamp duty land tax (SDLT) applies to a transaction. There are various rates of SDLT that can apply to acquisitions of different types of property (residential, non-residential (commercial property) or mixed use property). This Flowchart should be read in conjunction with Practice Note: Rates of SDLT. This Flowchart assumes that: • the purchaser is acquiring one property and that the acquisition is not linked to any other transaction. For more on linked transactions see Practice Note: SDLT chargeable consideration—Linked transactions • no relief from SDLT applies to the transaction. For more on reliefs from SDLT, see Practice Note: SDLT—general reliefs and exemptions, and • to the extent that the property being acquired is residential: ◦ the acquisition is of a major interest in a dwelling that is not subject to a long lease and the consideration is £40,000 or more. For the meaning of major interest see Practice Note: Higher rates of...

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VAT—transfers of a going concern involving land and buildings

VAT—transfers of a going concern involving land and buildings FORTHCOMING CHANGE relating to VAT registration and deregistration thresholds: With effect from 1 April 2024, the VAT registration and deregistration thresholds will increase to £90,000 and £88,000 respectively. This Practice Note is about the issues that arise on a transfer of a going concern involving land and buildings. A transfer of a going concern (TOGC) has two distinct meanings for VAT purposes: • an ordinary meaning, referring simply to the disposal of an ongoing business—this is relevant, in particular, to the VAT registration position of the buyer, and • a transfer that is treated as a non-supply for VAT purposes, so that in particular no VAT is due on it Both are often referred to as a TOGC, but for the remainder of this Practice Note this term is reserved for the second of these meanings, to refer to a non-supply. There are three main ways in which property might be the subject of, or included in, a TOGC: •...

Second charge mortgage regime

Second charge mortgage regime Second charge mortgages are loans secured on a property that is already subject to a first ranking charge mortgage. This Practice Note considers the second charge mortgage regime including (i) the transfer of second charge mortgages to the Financial Conduct Authority (FCA) regulated mortgage regime (ii) the treatment of the back book of second charge mortgages that existed before the implementation of the Mortgage Credit Directive (2014/17/EU) (MCD) on 21 March 2016, and (iii) the rules that apply to second charge regulated mortgage contracts (RMCs) entered into on or after 21 March 2016. Authorisation requirements for second charge mortgage business Any business carrying out a regulated activity must be authorised under the Financial Services and Markets Act 2000 (FSMA 2000), unless they benefit from an exemption or an exclusion. This includes lenders, administrators and intermediaries carrying on second charge mortgage activities. For more information on the authorisation process, see Practice Note: FCA and PRA authorisation under Part 4A of FSMA 2000. Second charge...

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Drafting notes for claim form in s 21 notice accelerated possession proceedings

Drafting notes for claim form in s 21 notice accelerated possession proceedings How to use these drafting notes A claim for possession of a residential property situated wholly or partly in England let on an assured shorthold tenancy (AST) using the accelerated possession procedure is made using Form N5B England. These drafting notes are for completing form N5B England only. Note that from 1 December 2022 ASTs and other forms of residential tenancies and licences of properties in Wales were replaced with occupation contracts under the Renting Homes (Wales) Act 2016. Existing ASTs became converted occupation contracts. For accelerated possession claims of residential properties situated in Wales, Form N5B Wales should be used. For further guidance, see Practice Note: Renting Homes (Wales) Act 2016—terminating standard occupation contracts and recovering possession. General points for issuing accelerated possession proceedings These drafting notes are designed to assist in completing form N5B England, which is the claim form where a private landlord has served a section 21 notice on the tenant...

Drafting notes for section 8 notice seeking possession of property let on an assured tenancy (AT) or an assured shorthold tenancy (AST)

Drafting notes for section 8 notice seeking possession of property let on an assured tenancy (AT) or an assured shorthold tenancy (AST) These drafting notes are to be used by a landlord when preparing to serve a notice pursuant to section 8 of the Housing Act 1988 (HA 1988) to seek possession of a dwelling let under an assured tenancy (AT) or an assured shorthold tenancy (AST) in England under one of the grounds set out in HA 1988, Sch 2 or an assured agricultural occupancy. How to use these drafting notes The section 8 notice should be in the following form: • Section 8 Notice for properties in England These drafting notes are for use in completing the section 8 notice only. Note that from 1 December 2022 ASTs, ATs and other forms of residential tenancies and licences of properties in Wales were replaced with occupation contracts under the Renting Homes (Wales) Act 2016. Existing ASTs and ATs became converted occupation contracts. For further guidance, see...

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Can a unilateral notice be registered against a property owned by a party to financial remedy proceedings where that property is co-owned by a third party?

Can a unilateral notice be registered against a property owned by a party to financial remedy proceedings where that property is co-owned by a third party? Section 30 of the Family Law Act 1996 (FLA 1996) provides that where one spouse (or civil partner) has the right to occupy a dwelling house, the other spouse is entitled to register home rights, provided that the property has been the matrimonial home. Those home rights may be protected, in the case of a property held in the sole name of one spouse only, by way of a notice being registered with the Land Registry. If the title to the property is registered, then the application for the home rights notice should be made using Form HR1—Application for registration of a notice of home rights. If the property is unregistered, an application may be made to the Land Charges Department for the registration of a Class F land charge. A spouse may only protect their interest in one property at...

Can a spouse register a home rights notice against land that adjoins the matrimonial home, as well as the house itself, when they are registered under two separate title numbers? Will the nature of the land and whether its use is integral to the use of the matrimonial home itself be a factor?

Can a spouse register a home rights notice against land that adjoins the matrimonial home, as well as the house itself, when they are registered under two separate title numbers? Will the nature of the land and whether its use is integral to the use of the matrimonial home itself be a factor? If two people are married (or in a civil partnership), and a property is owned solely in one spouse’s name, the other spouse can apply for a home rights notice to ensure that their rights in the matrimonial property are protected. This is done by filling in a HR1 Form and sending it to the Land Registry who can then register a notice. Section 30 of the Family Law Act 1996 (FLA 1996) created the concept of home rights. It grants the non-owning spouse or civil partner the right to not be evicted or excluded from the matrimonial or civil partnership home (except by way of an occupation order), and to enter and...

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Revised National Planning Policy Framework published

Planning analysis: The government has published a revised version of the National Planning Policy Framework (NPPF). Key changes from the previous version, published in December 2023, impact green belt policy and policy on establishing housing need and housing land supply. There is also greater policy support for infrastructure and community facilities, among other changes. A consultation response, published on the same day, sets out the government’s commitments to wider changes to the planning system, including changes to the regime under the Planning Act 2008 (PA 2008) for nationally significant infrastructure projects (NSIPs), and changes to planning fees. This is a brief summary of the key changes; further analysis on the implications will follow.

Property weekly highlights—12 December 2024

This week's edition of Property weekly highlights includes: new regulations on the register of overseas entities, RICS responses to the consultation on EPC regime reform and high street regeneration and cases on the right to manage and landlord charging for electricity where solar panels were not used.