Bullet Point Updates
2022 Bullet Point Update 10 – Capital Gains Tax Help – Divorcing Couples
The general idea of Capital Gains tax (“CGT”) is that if you sell or gift an asset CGT is charged on any increase in value since the asset was acquired. For the purposes of this Note - which focuses on recent changes to the rules for divorcing couples – two particular...
2022 Bullet Point Update 9 – Short-Term Lets & Licences
Something was said about the new licensing scheme for short-term lets in our February BPU. But as the system goes live on the 1st of next month (October) it may be worth offering an outline re-cap. From 1 October 2022, if you use a property to offer short-term lets...
2022 Bullet Point Update 8 – Private Residential Tenancy Shake Up Following The Covid Pandemic
If a landlord wants to recover possession of a property let to a private residential tenant but the tenant does not leave voluntarily the landlord has to get an eviction order from the First-Tier Tribunal. In response to the Covid pandemic various rules...
2022 Bullet Point Update 7 – Moving on With Moveable Transactions
The Moveable Transactions (Scotland) Bill (“the Bill”) was introduced to the Scottish Parliament in May. The title of the Bill may not make it immediately obvious what the Bill is actually about. The term “moveable property” at least suggests that the Bill...
2022 Bullet Point Update 6 – Yet Another Register – The Register of Controlled Interests in Land
Transparency régimes abound and another one came into effect on 1 April this year. Importantly, this one has criminal sanctions for non-compliance. The title of the Regulations governing this new transparency regime hardly qualifies as transparent: the Land...
2022 Bullet Point Update 5 – Evict with Care – Private Residential Tenancies
The case of Rafique v Morgan, decided in March this year by the Upper Tribunal for Scotland (“the Upper Tribunal”), reinforces the fact that care is needed when a landlord wants to get back a residential property which has been let privately. In Rafique v...
2022 Bullet Point Update 4 – Inheritance Tax “Excepted Estates” Expanded from January 2022 PART 2
Note: references below to a “spouse” include a civil partner IHT accounts & “excepted estates” Following a person’s death Inheritance Tax (“IHT”) may be payable. So that HMRC can keep tabs on this the deceased’s executor has to deliver an IHT account to...
Bullet Point Update 3 – Inheritance Tax “Excepted Estates” expanded from January 2022 PART 1
Note: references below to a “spouse” include a civil partner Introduction to IHT accounts & “excepted estates” Following a person’s death Inheritance Tax (“IHT”) may be payable. So that HMRC can keep tabs on this the deceased’s executor has to deliver an...
2022 Bullet Point Update 2 – Licensing Shake Up for Airbnb’s & Short Term Lets
Introduction to the shake-up Last month the Scottish Government announced that all short-term let properties will require a licence to ensure they are safe and the people providing them are suitable. Local authorities will be required to establish a short-term lets...
2022 Bullet Point Update 1 – An Alarm About Smoke Alarms
Introduction • From 1 February all homeowners in Scotland must make sure they have interlinked fire alarms so that if one goes off they all go off. • The Regulations covering this are the snappily-titled Housing (Scotland) Act 1987 (Tolerable Standard) (Extension of...
December 2021 – Controlled Interests & The Property Registers
The existing property registers · If you own a house or flat or land your right as owner will be registered in either the quaintly named “Register of Sasines” or the newer and more transparently named “Land Register”. · Similarly, if you are a tenant under a lease for...
November 2021 – Evict with Care – Private Residential Tenancies
A case decided in September by the “First-tier Tribunal for Scotland Housing and Property Chamber” (“the Tribunal”) shows that care is need when a landlord wants to get back a residential property which has been let privately. (Chamber Ref: FTS/HPC/PR/21/0301)...
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