Long Leasehold Questions

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Sticky: FAQ On Leasehold Property Issues-Your Answer Might Be Here by leaseholdanswers Started by leaseholdanswers, 29-05-2014, 08:36 AM	3 responses 9,553 views 0 likes	Last Post by Moderator2 17-06-2021, 21:40 PM
Freehold Purchase - First Refusal Offer - Next Steps by bigalxyz Started by bigalxyz, 18-02-2022, 14:34 PM	15 responses 248 views 0 likes	Last Post by sgclacy 19-02-2022, 21:10 PM
How to get freeholder to evict their disruptive tenant by pk42 Started by pk42, 18-02-2022, 11:46 AM	12 responses 240 views 0 likes	Last Post by doobrey 19-02-2022, 17:22 PM
RTM as an Option by Centurino Started by Centurino, 18-02-2022, 14:23 PM	0 responses 55 views 0 likes	Last Post by Centurino 18-02-2022, 14:23 PM
Alteration Breach? by hunnyrabbit Started by hunnyrabbit, 17-02-2022, 15:22 PM	2 responses 129 views 0 likes	Last Post by Section20z 18-02-2022, 11:39 AM
Freeholder/Property management being unethical by shininglight16 Started by shininglight16, 14-02-2022, 17:50 PM	34 responses 650 views 0 likes	Last Post by AndrewDod 18-02-2022, 09:50 AM
Obstacles to extending leases. by Santa Fe Started by Santa Fe, 12-02-2022, 20:50 PM	6 responses 235 views 0 likes	Last Post by Gordon999 16-02-2022, 19:23 PM
Indemnity insurance for AST by Derya Started by Derya, 16-02-2022, 11:12 AM	1 response 155 views 0 likes	Last Post by theartfullodger 16-02-2022, 14:37 PM
Who can become a director of a RMC? by David Mc Started by David Mc, 23-07-2021, 09:58 AM	32 responses 748 views 0 likes	Last Post by Grumio 16-02-2022, 12:48 PM
Admin charges for non-payment of service charges by noelrobx Started by noelrobx, 14-02-2022, 15:48 PM	7 responses 189 views 0 likes	Last Post by Section20z 16-02-2022, 08:28 AM
Time Limit for Service Charge issues 6 year versus 12 years? by Flashback1966 Started by Flashback1966, 13-02-2022, 22:41 PM	3 responses 115 views 0 likes	Last Post by eagle2 15-02-2022, 07:38 AM

Sale of Freehold - Tax to Pay

by divadee

Hi, I hope I can write this in a clear way that makes sense!

We bought a leaseholders flat in 2016, the next year we bought the limited company that held the freehold. This was done as no other leaseholder were interested in buying the freehold a few months prior to us buying our leasehold...
- Channel: Long Leasehold Questions
16-08-2022, 16:37 PM
Reply to Sale of Freehold - Tax to Pay

by sgclacy

It may be best to state that the company held the property in trust for you and therefore it is very important that in your personal tax return you show the gain. You must take professional advice on this
- Channel: Long Leasehold Questions
16-08-2022, 23:54 PM
Ground rent arrears from executor

by Martin448A

Hi,
received a letter out the blue from someone claiming to be the executor of the deceased freeholders of my leasehold maisonette. Have never receive ground rent request for payment for any of the years I have owned the property or has the other maisonette in my building.
They are now requesting...
- Channel: Long Leasehold Questions
16-08-2022, 00:30 AM
Reply to Ground rent arrears from executor

by Lawcruncher

That may not be the case. See this thread: https://forums.landlordzone.co.uk/fo...and-limitation

Interest can be charged if the lease allows it. However, no interest can be charged before the service of a section 166 notice because...
- Channel: Long Leasehold Questions
16-08-2022, 21:35 PM
Reply to Sale of Freehold - Tax to Pay

by divadee

And one last image as it only let me attach 2 at a time....
- Channel: Long Leasehold Questions
16-08-2022, 20:09 PM
Reply to Sale of Freehold - Tax to Pay

by divadee

Oh god I have a feeling something may have gone horribly wrong in all of this and we may of messed up! We have been advised by our management agents throughout all of this (who have managed the property for a good number of years as the previous freeholders used them as well) and just trusted what they...
- Channel: Long Leasehold Questions
16-08-2022, 20:08 PM
Reply to Sale of Freehold - Tax to Pay

by sgclacy

It would appear to have claimed roll over relief on the statutory lease extension where £14k was received - unless you had bought a property to roll over the gain this may have been premature

so on a base cost of £18k you will have received £12k plus £14k a gain of £8k so corp tax...
- Channel: Long Leasehold Questions
16-08-2022, 19:53 PM
Reply to Ground rent arrears from executor

by Martin448A

Ground rent is £75 year, don’t have lease details with me but around 150 years
- Channel: Long Leasehold Questions
16-08-2022, 19:51 PM
Reply to Sale of Freehold - Tax to Pay

by Gordon999

Here is my rough understanding of your situation :

1. Your purchase of the limited company for £17K in 2017 was probably entered in the company's accounts as funded by a "director's personal loan".

2. The limited company received £14K for granting...
- Channel: Long Leasehold Questions
16-08-2022, 19:09 PM
Reply to Ground rent arrears from executor

by Flashback1966

I suggest you buy the freehold. It is never great when they change hands and people are not being fair....
- Channel: Long Leasehold Questions
16-08-2022, 18:12 PM

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