The Practical Lawyer

In November 2017, the Bank of England took over direct delivery of CHAPS. Accordingly, it became necessary to change the definition of ‘clearing bank’ in the Standard Commercial Property Conditions and the Standard Conditions of Sale.

Do management company restrictions achieve any real purpose?

The Law Society wants to hear from conveyancers who have been contacted by HMRC about the recovery of VAT on electronic property searches.

From 1 March 2018, SDLT returns will need to be filed – and any SDLT paid – within 14 days (not 30 days).

In his November 2017 Budget, the Chancellor abolished SDLT for first-time buyers on purchases up to £300,000 (and also introduced a tax saving of up to £5,000 for £300,000-£500,000 first-time buyers).

The LR has amended PG 19 to clarify the need to prioritise the order of applications when registering a restriction.