The transfer of titles from the Register of Sasines to the Land Register, whether by acquisition, voluntary registration or Keeper-induced registration (KIR), can have undesirable consequences for landowners.
Despite the turmoil caused by economic uncertainty surrounding Brexit, figures show that the housing market in Scotland has continued to flourish. The average house price in Scotland rose by 2.4 per cent in 2018. The total volume of sales in 2018 also increased from those seen in 2017. While there are always exceptions in particular sectors or locations, the market generally appears to be performing strongly, with further growth predicted over the next five years.
As I wrote in my article on 26 November 2018, the Scottish Government provided a useful update at the end of last year regarding their plans for Succession Law Reform. That update removed some of the uncertainty that has existed for the past few years but still left a number of issues unresolved. To make further progress, the Scottish Government recently released a Consultation on the Law of Succession, focussed on what should happen if someone dies intestate (without a Will).
With less than a month until the end of the 2018/19 tax year the annual rush of frantic tax planning is well underway for many individuals. One of the lesser known, but highly advantageous, tax reliefs available to individual taxpayers comes in the form of Share Aid.