KEY TAKEAWAYS New rules will require disclosure of contractual control agreements over land. A wide range of development-related rights will be caught. Key details must be submitted to the Land Registry within strict deadlines. Information will become publicly accessible, increasing
More about New transparency requirements for Contractual Control AgreementsPlease note that this article only considers VAT issues in relation to overage payments – there are other tax issues which also need to be considered, which are beyond the scope of this article. Key Takeaways For housebuilders, overage can
More about Clarified guidance from HMRC on VAT treatment of overageWhat happened? The Seller, Henley Developments, obtained outline planning permission for a residential development site in Ebbsfleet, Kent and exchanged contracts to sell one of the development parcels to Weston Homes for £14,500,000. Weston Homes paid a 5% deposit on
More about Termination clauses: start as you mean to finish