Stamp Duty set to rise for buy-to-let or second home properties
In his Autumn Statement last week, George Osborne announced the introduction of an additional levy in respect of Stamp Duty Land Tax (SDLT), which will increase the cost for those buying a buy-to-let property or second home from April 2016. All residential property transactions up to now have been subject to the same tax calculation. […]
Firms fined for safety breaches after serious injury to worker
On 6 August 2015 at Mansfield Magistrates’ Court, Bath-based manufacturer Rotork UK Limited (‘Rotork’) pleaded guilty to breaching the Provision and Use of Work Equipment Regulations 1998, having failed to provide appropriate guarding for a lathe. Rotork was fined £15,000 and ordered to pay £1,741.12 in costs, and a victim surcharge of £120, after a […]
High Court considers burden of proof in establishing defence by Company Directors to wrongful trading claim
On 31 July, in a case against two directors of an insolvent company, liquidators applied for orders for a contribution from each of them to the assets of the Company in respect of wrongful trading and for an order for compensation for breach of their duties as directors. The High Court considered the application under […]
Changes to inheritance tax – key issues
The changes to inheritance tax will mean family members will be able to inherit as much as £1 million from 2020 without paying 40 per cent inheritance tax – so long as the estate goes to children or grandchildren (which also includes stepchildren, adopted and foster children), and includes a family home worth between £650,000 […]