Budget 2024 update: buying more than one property

The Government’s 2024 Spring Budget saw significant changes to the way property is taxed, including the imminent abolition of multiple dwelling relief. This will primarily affect investors looking to buy multiple properties at the same time, however, it could also affect you if you are buying a property that comprises more than one unit, such as a house with a distinct annex. ‘If you are purchasing a property with a separate granny annex and multiple dwelling relief applies to your purchase, it can save you thousands of pounds in stamp duty,’ explains Holly Stevens, Director & Head of Residential Property with Ware & Kay incorporating Pearsons & Ward. ‘However, this relief will very shortly be abolished, so if you think an intended purchase may qualify, then speak to your solicitor as soon as possible.’ In…

What is undue influence when making a Will?

The Court of Appeal in the recent case of Rea v Rea has confirmed that a high bar must be reached in order to succeed with an undue influence claim in relation to the making of a Will. The background Anna Rea made a simple one-paged Will in 1986 leaving her estate in equal shares to her four children: daughter Rita and her three sons. In 2015 Anna made a new Will in which she left her property 5 Brenda Road (the largest asset in the estate) to her daughter Rita with the residue being divided equally between the four children. The sons contested the new Will and Rita brought proceedings to ‘prove the 2015 Will’ asking the Court to give it effect. Rita’s brothers challenged the claim saying that the 2015 Will was invalid…

Employee, worker or self-employed – are you clear on the difference in status?   

The size of the workforce on your farm is likely to increase and decrease across the seasons, for example when the workload increases for lambing or harvest. Nowadays there is all manner of flexible solutions, but it is important that farmers take care to ensure they are clear about the employment status of each person who works on the farm. HMRC and employment tribunals are red-hot on ensuring that a worker’s employment status is correctly categorised and they will look beyond any contract to see what happens in practice. ‘It is up to you to ensure that you categorise and treat people consistently, so it pays to be au fait with the different worker classifications,’ says Kalpesh Nakeshree, Head of Employment at Ware & Kay and Pearsons & Ward Solicitors in Malton (part of Ware…

Lots of blooming employment laws to Spring into action!  

There has been a recent surge in legislation that employers need to be aware of. Like Spring itself they will soon be upon us! Here are 3 key updates to be mindful of: National Minimum Wage For the first time, the top rate of national minimum wage will apply to workers aged 21 and over from 01 April 2024 (currently it only applies to those aged 23 and over). The new top rate is set to be £11.44 which is an increase of 9.8% from 2023. Employers must ensure that the correct minimum wage payments are made or they will risk claims being made from staff which could result in significant penalties and in some cases, reputational damage. Flexible Working Requests It is anticipated that key changes will include for…