Many of the members questions posted on the forums at Property118 are about buying, selling and owning properties in the most tax efficient manner. It appears to be quite rare for conveyancing solicitors to advise their clients on the most tax efficient property ownership structure and many lawyers appear to simply act on instructions to buy or sell a property on the assumption that the ownership is in one name or as joint tenants. This can result in tax saving opportunities being missed.
The legal team supporting the Property118 joint venture initiative are Hawkins Ryan solicitors, a relatively small firm (registered with The Law Society of course) whose property team consists of six incredibly experienced conveyancers. As they are based in provincial Norfolk their pricing is very reasonable and their advice may even save you more than they charge you. For example, they recently saved a person nearly £3,000 on a sale just by adding a spouses name to the title of a property on the day of sale in order to utilise both available annual CGT exemption allowances. They are also able to advise on efficient ownership restructuring for divorce/separation purposes and title splitting (e.g. garden sales and creation of leaseholds from a single freehold).
Every case completed by Hawkins Ryan solicitors will result in a £50 contribution towards the running costs of Property118 too. Therefore, by giving them your business, you will also be supporting the Property118 community which College and County are delighted to be a part of. Their member Q&A forums are a constant source of useful hints and tips to drive efficiency in rental portfolio’s.
Communication with Hawkins Ryan is generally by telephone, email and post so you don't actually need to meet them unless you particularly want to and they do everything possible to make things easy for you; for example, by putting little yellow stickers indicating where you need to sign documents. Like most landlords, you probably want your solicitors to read everything for you and to point out anything unusual and generally bring matters of importance to your attention. Hawkins Ryan do that as par for the course.
If you are looking to instruct conveyancing solicitors please get in touch with them by completing the contact form on the new website, which we have conveniently been able to embed below.