If you are currently studying with ILSPA, you have the opportunity to attend one of the tours which take place monthly at the Royal Courts of Justice. The feedback which we receive from students shows the tour to not only be an enjoyable and informative day out, but also a valuable resource for their studies.
After the personal tax allowance and the duty on alcohol and tobacco, one of the most eagerly scrutinised elements of the UK Government’s Annual Budget Statement is Stamp Duty. More correctly known as Stamp Duty Land Tax, this is a levy that is of interest to anyone who is considering the purchase of a house.
What is Stamp Duty?
Stamp Duty is a tax levy that is payable on the purchase of a residential property or piece of land. The tax is applicable to freehold and leasehold, whether the transaction is financed by a mortgage or is an outright purchase. Stamp Duty is also payable on second and subsequent homes but at a different rate.
Who pays Stamp Duty?
If your studies with The Institute of Legal Secretaries and PAs have delved into the intricacies of land law, you will appreciate that there are a number of rights in land that can arise within our legal system. From the beneficial interests that flow from trusts in land to covenants and easements, there are myriad ways in which a particular piece of land may be burdened by another person’s right, and this article aims to look at these in turn.
The first thing you need to know about restrictive covenants is that they are never any more than an equitable interest in land (in line with S.1 of the Law of Property Act 1925). This is unlike the easement that we will discuss next, which can also be a legal interest in land.
As a student with The Institute of Legal Secretaries and PAs, it is always a good idea to acquire a clear appreciation of exactly how the English legal system works. From the conventions of Parliament that have accrued over many centuries to how evidence may be given in court in light of the fact that we now live in an advanced technological age. It is this latter dimension of our judicial system that we will turn our attention to in this article.
Good old-fashioned methods
When most people think of paying a visit to a court, it is usually either associated with a wrongdoing, for example, criminal activity – or, perhaps, as part of an educational field trip. Yet, the recent announcement from tourist review site TripAdvisor, recognising the UK Supreme Court with an Award of Excellence, is encouraging those outside these typical visitors to enjoy a day at the courts. There are also great reviews about the Royal Courts of Justice in the Strand.
Almost everybody at some point in their lives has procrastinated in order to avoid doing their work or a task in the vain hope that it might complete itself, or maybe even disappear. Unfortunately for you and me, it never disappears; in fact, it normally gets more and more urgent or difficult to do. The best way out of this cycle is probably not to get into it in the first place.
This month, we are reviewing key aspects of English land law. Students often find land law a difficult subject to study. Part of the reason for this may be because ownership of land in England has its roots in the feudal system established by William the Conqueror after 1066. The modern source of land law is derived from common law, equity, and legislation such as the Law of Property Act 1925 and the Land Registration Act 2002.
Whilst we all fully appreciate the fact that using the correct terminology in all areas of law is imperative, Wills are perhaps of the most importance. After all, we are talking about discharging the last wishes of the deceased: therefore, we really do need to ensure we get things just right.
Alas, though, when it comes to the terminology used in Wills, this is not always the case. It takes just a couple of words that could be construed in another way to be inserted into a Will to really mean the difference between the testator’s dying wishes being carried out and part or even all of the Will’s legacies falling into intestacy.
If you have been studying ILSPA’s Legal Secretaries Diploma course, you will already have a good understanding of the way in which the common law system of England came into existence. Our legal system – as well as other legal systems throughout the world, such as those in Australia, India and South Africa – is based on common law.
What is common law?
This month we are focusing on a survival guide for how couples can reach a financial settlement on their own when divorcing or ending a civil partnership. We will highlight key principles that should be considered and how the courts reach their decisions if a court order is needed.
Overview of the law
When financial orders are made by the court, normally the spouses’ financial needs and the needs of any children of the family are the main focus of the case. When the assets involved in a case are more than enough to cover needs, then additional considerations may apply, such as what assets were brought into the marriage or the parties’ behaviour.
Making an agreement without going to court