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News and Deals
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PGS abandoned |
Milton
Keynes, Westminster and Swindon, will the new charge be made on top of that?
There is a danger that the new regime may in fact increase the tax burden
on developers. It is unlikely that anyone will end up paying less.
Land Register Land Registry is seeking views on proposals to introduce two new triggers that would lead to compulsory registration of title. The proposed new triggers are: w appointment of a new trustee or unregistered land held in trust, where the land vests in the new trustee by deed or other instrument in writing, or be besting of the court w partitioning of unregistered land held in trust among the beneficiaries of the trust An example of an existing trigger for compulsory registration is the transfer of land either by sale of gift. The proposal to introduce additional triggers forms part of Land Registrys drive to achieve a comprehensive land register for England and Wales. It runs alongside efforts to encourage voluntary registration. Around 60% of land in England and Wales is now registered on the national land database. A registered title provides real benefits to the owner, enabling more effective management or land assets and consolidating complex legal and historical data about the land. Copies of the consultation document are being sent to a wide range of government departments and agencies, representative bodies and individuals. The consultation period runs from 19 November until 29 February 2008. |
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