Philip Vickery and Mark Chick recorded a podcast for the website Property Battlefield.
In this interview with John Savage they discuss tax and lease extensions and the tax implications that may arise if a lease extension is carried out some time after the freehold has been purchased.
You can also read our article PDF “Why bother extending your lease when you have just bought the freehold?“.
If you are in a situation where you have purchased the freehold to your building and not yet extended your leases there could be a tax liability for both the freehold company and the individual flat owners.
If you have any questions concerning tax and lease extensions or want to discuss the issues raised further, please contact Gina Fairfax by emailing firstname.lastname@example.org or by telephoning 020 7631 4141 and asking to speak to a member of the Tax team.