Blog - 21/05/2024
Property
Share of the freehold: potential tax ramifications where leases have not been extended
Property partner, Katherine Simpson, explores the tax issues that can lurk where a leaseholder owns a share in the freehold company but the lease of their flat has not been extended. Katherine identifies the tax liabilities that might be triggered both for the freehold company and the shareholder/leaseholders on the grant of 999 year leases of the flats in the building, and puts forward a possible solution.
For further information regarding this topic, please contact Katherine Simpson.
Our video interviews are also available on all major podcast streaming platforms, including:
If you aren’t receiving our legal updates directly to your mailbox, please sign up now
Please note that this blog is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content of this blog.
Edwin Coe LLP is a Limited Liability Partnership, registered in England & Wales (No.OC326366). The Firm is authorised and regulated by the Solicitors Regulation Authority. A list of members of the LLP is available for inspection at our registered office address: 2 Stone Buildings, Lincoln’s Inn, London, WC2A 3TH. “Partner” denotes a member of the LLP or an employee or consultant with the equivalent standing.
Please also see a copy of our terms of use here in respect of our website which apply also to all of our blogs.
