Fears Grow Over the Chancellor’s Latest Plans to Tax Property Transactions
Fears are growing in the UK housing market over Chancellor Rachel Reeves’ Autumn Budget plans to increase property tax. Reports suggest Labour may introduce Capital Gains Tax (CGT) on home sales, a move that could have a major impact on the UK housing market. Rachel Reeves is looking for options to fill a financial ‘black hole’ and reports suggest Labour may […]
The Ministry of Justice Shuts Down Unclaimed Estates Register Following Explosive BBC Investigation
The Ministry of Justice (MoJ) has taken down the official Register of Unclaimed Estates in England and Wales. This unprecedented move follows the release of Shadow World: The Grave Robbers. This compelling BBC podcast has sent shockwaves through the legal and probate communities. The BBC Podcast That Sparked a Government Reaction Launched in early July, Shadow World: The […]
Inheritance Tax Hits Record High – And Property Owners Are Feeling the Pinch
Inheritances in the UK have just hit a new milestone, but not in a good way. HMRC collected £6.7 billion in inheritance tax (IHT) during the 2022–23 tax year, up 12% from the previous year. That’s £710 million more taken from estates, marking a record high in IHT receipts. Why the jump? Property values are […]
A quarter of lettings agents are in the dark about reforms set to transform the sector under the Renters’ Rights Bill.
The UK property sector is bracing for a wave of change under the Renters’ Rights Bill. However, a recent survey shows that many letting agents are far from ready. With the bill set to transform how landlords and tenants interact, industry experts warn that agents who fail to prepare risk being left behind. Letting Agents in the […]
Conveyancing body launches referral fees probe after BBC investigation.
The Council for Licensed Conveyancers (CLC) reveals the BBC Panorama investigation into conditional selling that aired last week has persuaded it that estate agent commission for referrals needs a major overhaul. During the programme, it was revealed that as well as pressuring some buyers to use its in-house mortgage broker, conveyancing referral fees were also […]
Ministers urged to ‘get on’ with stronger homebuyer protections
Consumer groups are urging ministers to expedite the implementation of stronger protections for homebuyers, specifically by mandating developer participation in a customer redress scheme. This push comes amidst concerns about issues like mis-selling and a desire for greater accountability from developers, particularly regarding building standards and safety. Key areas of concern and proposed solutions include: […]
Renters’ Rights Bill passed to the Lords for report stage and some Lords have grave concerns.
Members of the House of Lords started their further examination of the Renters’ Rights Bill last week and unsurprisingly some Labour Peers who are landlords are finding some of the proposals are not to their liking. Labour Peer Lord Hacking started by declaring “my wife and I own five one-bedroom flats in the next-door house […]
Estate Agents sales exceed the 200-day mark for the first time.
Research carried out by property market data specialists TwentyEA, shows the average number of days to sell a home in the UK now stands at 205 – the first time the 200-day mark has been broken. The longest time to sell is in inner London and the South-East at 222 days, closely followed by outer […]
Almost two decades after it was first proposed, HS2 is in tatters.
In giving the go ahead to the project the then Chancellor, George Osbourne, promised us a high-speed line between London, Birmingham, Leeds, Manchester and Sheffield with trains travelling at up to 248mph. There would be connections to Heathrow and potentially to the Channel Tunnel. The cost was to be a mere £32.7 billion. Despite repeated […]
Labour MPs rebel over the Planning and Infrastructure Bill due to environmental concerns about protected habitats and wildlife.
Around two dozen Labour MPs have called for ministers to force developers to build over a million homes which have already received planning permission before legislation is changed around environmental protections. Part three of the new bill will allow developers to achieve their environmental obligations by paying into a central nature restoration fund which would […]
