Residence Nil Rate Band

The purpose of this brief article is to summarise the new relief available for Inheritance Tax (IHT) that was introduced in last year’s summer’s budget. This relief is to be known as the “main residence nil rate band” and the good news is that it is to operate alongside the current “nil rate bands” that

LEASE EXTENSIONS: “I have 81 years left on the term of my lease. Why do I need to extend it and what is the procedure?”

1. Why should I extend my lease? A residential lease allows a leaseholder to occupy a property for a fixed period of time, often initially for 99 or 120 years. Every day that time gets shorter and could ultimately require the leaseholder to hand back the property to the freeholder. A problem more regularly encountered