Some new updates (remember that for full advice on these bulletins please ask to speak to one of our Solicitors on 020 8651 3118):-

• Important changes are introduced on 1st February 2009 to the rules on entitlement where one dies without having left a valid Will: click here for a note of the changes

• From 21st May 2010 the HIP rules are changing so that a property will not need a HIP pack in order to be marketed save for the need to have just an EPC certificate in place but a seller is permitted to market as long at the EPC is available within 28 days of marketing commencing.

• From 1st October 2007 it was no longer possible to make new Enduring Powers of Attorney, a new regime has been introduced creating what is known as the Lasting Power of Attorney.
• From 9th October 2007, any portion of Nil Rate Band unused when a spouse or civil partner dies may be transferred to the surviving spouse or civil partner and used when calculating their liability for Inheritance Tax when they die but normally this must be claimed within 24 months of the death of the surviving spouse unless there are exceptional circumstances and HMRC in their absolute discretion agree. 
• The Chancellor of the Exchequer has announced that Stamp Duty Land Tax (SDLT) will not apply (subject to a limited period) to purchases of residential property of £250,000 or less by first time buyers subject to fulfilling certain criteria. Please telephone one of our partners to find out whether you might qualify for that.
• From 1st October 2008 all residential properties to be sold or let must be offered with an Energy Performance Certificate (EPC). We can arrange for that to be carried out for you as part of our property selling or letting service

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