What is stamp duty and when do I need to pay it?

Stamp Duty Land Tax (also known as SDLT or just Stamp Duty) is a type of tax payable on the purchase of land or property in the UK. It is payable to HMRC and the amount payable depends on the value and type of transaction. Your solicitor will be able to advise the level of stamp duty payable, and…


Changes of use

When operating a business, whether it be a shop, restaurant or an office, you must ensure that you are not breaching either your obligations under your lease or planning laws in using the property in a particular way. For example, if there is planning permission for the use of the property as a…


Commercial Landlords- a large repair bill may be on its way!

The rules surrounding energy efficiency and minimum standards for landlords are changing very soon. Our recent article considered the residential property changes, what they mean and implications for non-compliance of the rules. If you are a landlord of a commercial property, you need to be aware…


assignment

How do I avoid future liabilities on assignment of my commercial lease?

If you own a business and operate from a property under a commercial lease, your lease will contain various obligations to your landlord.  Should you wish to sell the business and assign your interest in the lease to the new owner, it is important to be aware that your liabilities under the lease…


Lease or Licence: what is the difference?

If you grant somebody permission to use your property, you could be granting them an interest in the property itself. There are a number of ways to allow someone to use your property; the most common of which are leases and licences. A licence grants a personal right to use the property or part of…


What is involved in buying or selling a business?

If you are considering buying or selling an existing business, you will be involved in the transfer of certain business assets. Most sales of a business involve the following assets changing hands: Goodwill The goodwill is the name, reputation and established customer or client base of a business…


The Immigration Act 2016 – New powers tackling illegal workers in Licensed Premises

As a result of the Immigration Act 2016, new powers preventing illegal working in bars, pubs, restaurants and nightclubs (to name but a few) came into force last week. Background Around 60% of all civil penalties for illegal working served in the UK in the year to February 2017 were issued in the…


Can I be liable for misrepresentation to a buyer purchasing my property?

When you are selling a property, you will have to give information to your buyer about the property. We have looked over a series of articles about the information you may have to provide to your seller. You will usually be asked to complete a Seller's Property Information Form (SPIF). Further,…


Forfeiture for non-payment of rent

Leading on from last week’s summary of commercial rent arrears recovery options, we will look at an overview of forfeiture for non-payment of rent in a commercial context. (NB the rules are rather different for residential properties). What is forfeiture? Forfeiture is the landlord's ability to end…