Dilapidations under Commercial Property Leases – Recent Developments
Prudent tenants of commercial property should make provision in their accounts for their anticipated dilapidations liability at the end of their lease. Typically in a commercial lease liability for nearly all repairs and maintenance is passed on to the Tenant. During the lease the Landlord can demand that their Tenant carries out repairs (and […]
The Consumer Rights Act 2015
The Consumer Rights Act 2015 came into force on 1 October 2015. It applies to contracts between traders and consumers entered into after 1 October 2015. Contracts entered into before the coming into force of the Act are still governed by the previous legislation, namely the Sale of Goods Act 1979, as amended. This is […]
Buying Property at Auction
Buying property at public auction or “roup”, to use the Scottish term, was commonplace in Scotland many years ago. However, although auctions have always taken place, it has been comparatively rare in recent times for properties to be sold by auction. Property here has been either sold on the open market or by private agreement […]
Congratulations on becoming a new Company Director
Have you recently, or are you about to, become a director of a Company? If so, you should expect to receive a letter in the form below from Companies House, along with a leaflet on Directors’ Duties, but you may wonder why? Previously, the appointment of a new director could be filed electronically, […]
Government Warning: Inheritance Tax can damage your wealth (preservation)!
by Douglas Blanchard, Financial Adviser at James & George Collie Financial Management Now that the liberalisations to the pension system have had an opportunity to bed in, one of the most generous – and transformative – options to consider is the ability to pass on virtually all types of pension funds outside of the saver’s […]
New Tax On The Purchase Of Second Homes And Buy To Let Properties
The Scottish Finance Secretary, John Swinney, announced in December, 2015, the introduction of a new 3% charge payable on the purchase of second homes in Scotland, including buy to lets, effective as of 1st April, 2016. The move mirrors a similar proposal previously outlined by the UK government. The 3% charge (payable in addition to […]
Every Cloud…
So here we are again! Recession has hit the North-East once more as well as the global market due to the fall in oil prices. As many in the profession know this is cyclical but with aging oil fields we need to be armed to deal with the fact that this has a huge impact […]
Adopting a Child: How we can help
Adopting a child in Scotland is a formal legal process, whereby all the rights and responsibilities relating to a child are transferred to the adoptive parents. Once the Court grants the adoption order, the adopters become the children’s legal parent or parents. This decision is permanent and the child’s birth parents will no longer have […]
Happy New Year!
What? Happy New Year? But that was months ago, even Easter has come and gone. Indeed, but 6th April is the start of the new tax year, so what are your Financial Resolutions? Maybe you haven’t thought about it yourself, so here a few for you to think about: Use your allowances – you have […]
Financial implications of the proposed new rules on energy efficiency in commercial buildings
The Assessment of Energy Performance of Non-Domestic Buildings (Scotland) Regulations 2016 are due to come into force on 1st September 2016 and will mean that certain commercial properties must achieve a minimum energy performance level (likely to be an E rating) in order to comply with the Regulations. This means that commercial properties with an […]