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[Gordon999]

If there is potentially a huge capital gain on current house if sold and you want to have it covered as your PPR , then perhaps you should consider staying for longer period to avoid being taken as a property trader....

[Gordon999]

What implications ?

Is the policy holder of your building's insurance policy in the name of previous freeholder ?

It may be invalid policy if the "named policy holder" has no insurable interest in the building ????

[Gordon999]

The Management Company is appointed by the freeholder to collect the service charge.

If the name of old freeholder is shown on the service charge demand, it means the Management Company has not been appointed by the new freeholder.

[Gordon999]

I would enter 50% of those figures on your tax returns ( you + partner ) and show the entry value at £13.5K in 2012 and sale value at £15K in 2017. So the capital gain by each person is only £1.5K ....

[Gordon999]

Make an application to the FTT to judge the reasonableness of the cost.

[Gordon999]

https://www.bradysolicitors.com/brad...y-not-be-lost/...

[Gordon999]

I suggest you contact the FCA and make complaint against the insurer and ask for the insured cover for the building to be re-instated .

[Gordon999]

https://www.lease-advice.org/advice-...panies-agents/

[Gordon999]

https://www.lease-advice.org/advice-...arges-england/

[Gordon999]

Lets say it is £54K .

Since you have extended your own lease from 69 years to 999 years and transferred 50% of the freehold value to your own flat, The value remaining in freehold must relate to lease extension cost payable by other flat.

So your acquisition cost in...

[Gordon999]

Assuming the cost of 90 years statutory lease extension is roughly 6-5% of the market value of the flat with 69 years remaining on the lease, and the approximate value of the freehold title is 2 x 6.5% = 13%

What is 13 % of your flat value in 2012 ?

[Gordon999]

The managing agent for a block of flats is responsible for sending demands to leaseholders for payment of service charge and arranging the maintenance for the building include cleaning, gardening and insuring the building. The annual charge per flat may be £150 - £300 per annum depending on the...

[Gordon999]

What valuation does an on-line calculator give for the freehold title in 2012 ?

[Gordon999]

The flat remains as a BTL property until it is put to another use ( by moving in or selling. )

So I would claim all of the allowable maintenance expenses incurred whilst it is vacant after the last tenant had moved out.

https://www.gov.uk/hmrc-internal-man...anual/bim80565...

[Gordon999]

I believe there should separate LR title numbers for one " leasehold title for sale flat" and one "freehold title for the entire building"

(a) The TR1 form for transfer of leasehold title shows name of " Transferor" ( seller) and "Transferee"(buyer...

[Gordon999]

Is the outstanding legal fees, billed to your name only or to name of other leaseholder or to name of RTM ?.

You should call by phone the other persons responsible to contribute and ask if they have paid yet ? You should not rely on email .

[Gordon999]

desamax,

In my post No. 2 , I pointed to Section 10.2 in LEASE's free guide which gives the advice copied below :

" If the landlord does not serve a counter-notice by the date stated in the tenant’s notice, you can apply to the court for a vesting order. This application...

[Gordon999]

Make a complaint to the SRA against the solicitors which did the extension.

[Gordon999]

Who are we ? Was the freehold registered in joint names ? ?

If so, then each joint owner can claim a capital gains tax free allowance of £11,700.

If the freehold title was sold for less than £23,400 ( 2 x £11,700) , then probably no tax to pay and you can use an online...

[Gordon999]

Your friend should set up a RMC ( Residents Management Company) which must be accepted by the freeholder

or set up RTM ( Right To Manage Company ) which requires 50%+ support by leaseholders :

- and appoint another managing agent to do the service charge administration...