I am a freeholder. The flat owner is going to pay me a premium to extend his lease. Am I going to pay any tax on that? The answer to this is that ‘it depends.’ Assuming that there will be a capital gain on the disposal when the lease is granted then the answer is probably ‘yes’. The exception may …
How do I know what premium the tenant should be paying me to extend the lease?
If a Section 42 Notice has been served, this notice will state an offer figure. This is very much the starting point in negotiations as to the price to be paid. You should take professional valuation advice on the likely ‘fair’ premium from a qualified surveyor. You can always use a Lease Extension Calculator to determine whether the offer seems …
I am a freeholder, involved in a lease extension. Will I need a solicitor?
If you are served with a Section 42 Notice or a Section 13 Notice, you should take legal advice immediately. If you fail to respond to the Notice of Claim or do not respond in the appropriate way, you are at risk of losing out. Even if you are happy to deal with the leaseholder ‘informally’, you will need a …
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