Nation Acquires Another Painting through Acceptance in Lieu Scheme
A major full-length portrait by Sir Joshua Reynolds of the 5th Earl of Carlisle has been accepted in lieu of inheritance tax for the nation. The Acceptance in Lieu (AIL) scheme is administered by Arts Council England, and enables taxpayers to pay inheritance tax by transferring important works of art and other important heritage objects […]
Confidence Returns to the Property Market
Confidence is returning to the UK housing market after a slight dip in the run-up to the EU Referendum, the latest Property Tracker by the Building Societies Association (BSA) has found. The Tracker found that a greater proportion of people (12%) are more likely to purchase property now than they were at the beginning of […]
‘Traditional’ Methods are Often the Best for Homebuyers
Despite the many different apps and websites that now exist to help homebuyers find their perfect property, many still find that the more ‘traditional’ methods are the best, according to new research from Which? Which? questioned 2,000 homebuyers about how they found their property. More than half (55%) said that they found it through a […]
‘Project’ Properties Prove Popular with Homebuyers
According to recent research, over 70% of prospective homeowners in Britain would prefer to buy a property in need of work rather than a home that is already in move-in condition. Buying a ‘Project’ Property The research, by property website Zoopla, found that these homebuyers are prepared to spend an average of £16,765 to bring […]
Over-50s Plot £50,000 Pension Giveaway
New research by Saga Investment Services has revealed that a growing number of over-50s are planning to hold back savings in their pension to pass on their wealth tax-efficiently. According to the research, 25% of those surveyed with a private, ‘defined contribution’ pension who were currently using flexible drawdown with their savings said they were […]
Speculation over Impact of Brexit on Scottish Property Market
Solicitors Property Centres Scotland has recently published some initial thoughts on what impact the Brexit decision might have on the property market in Scotland. According to SPC Scotland, the Scottish property market is generally very resilient and to date there have apparently been no reports from solicitor estate agents about sales falling through because the […]
Family Changes Trust Rules on Inheritance
A wealthy family has changed the inheritance rules linked to the estate that has been in the family for generations, to ensure that the same-sex partner of any gay descendants will be entitled to a life-interest in the property, reports the Daily Mail. Trumpington Hall was acquired by the Pembertons in 1675, and in 1965 […]
House Price Index Reveals Scottish House Price Rise
The latest House Price Index has revealed that the average property price in Scotland in May 2016 was £141,142. This was an increase of 4.0% on the previous year and an increase of 2.8% when compared to the previous month. In comparison, the UK house price average was £211,230, which was an increase of 8.1% […]
The End of Right to Buy in Scotland
On the 31st of July, the Right to Buy, which allows tenants in social housing to buy their homes, will come to an end in Scotland. Right to Buy The Right to Buy in Scotland was established by the Tenants’ Rights, Etc. (Scotland) Act 1980. Subsequent legislation, by the UK Parliament and – following devolution […]
RoS Provides Insight into Scottish Housing Market
A new report from Registers of Scotland (RoS) has revealed that the total value of the residential sales market in Scotland from 2006 to 2016 amounted to just over £148.2 billion. The 10-year property market report gives an interesting insight into trends in the land and property market over the decade’s peak years, and in […]
