VAT advice was sought on the effect for a tenant of the service charge provisions in a lease of a commercial unit in a building which consisted of two commercial units and eight flats, all owned by the same lessor. Each lease also carried the right to use a designated car park space.
In December 2006 the parents of RB bought a flat for £400,000. The flat was acquired as joint tenants by RB, his father and his mother. The purchase price was provided by RB’s parents and SDLT was paid on that figure. At the time of acquisition it was agreed that RB would pay his parents £133,333.33 (one third of the total purchase price) for his share.
A registered charity had drafted a proposal under which a major UK corporate would provide the funds to enable it to give grants to 500 individuals to create and develop social and community enterprises. The sponsor’s employees would be given the opportunity to mentor the participants, and there would be branding and marketing opportunities.