Assets of Community Value meaning

In this issue: Probate Court of Protection UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Insolvency—Private Client Digital assets and cryptoassets Charity and philanthropy Contentious trusts and estates Pensions, insurance and tax efficient investments International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis®PSL community New and updated content Dates for your diary Trackers Latest Q&As Useful information Probate HMCTS probate enquiry line—temporary reduced hours From 14 February 2024, and for 12 weeks, the HMCTS probate helpline will run on reduced hours: 9am to 1pm, Monday to Friday. The HMCTS Probate Service remains available via web‑chat from 9am to 5pm, Monday to Friday. Source: HMCTS Probate LinkedIn post. MoJ urges those entitled to claim dormant funds held by CFO to act now The Ministry of Justice...

In this issue: Trusts Court of Protection UK taxation for Private Client Updates to HMRC Manuals Tax avoidance, evasion and non-compliance Regulatory compliance for Private Client Budgets and Finance Bills Family enterprises and ownership frameworks Disputed trusts and estates Pensions, insurance and tax-efficient investments Scotland, Wales and Northern Ireland International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Latest Q&As Useful information Trusts HMCTS issues guidance on applications to recover funds paid into the High Court, Chancery Division HM Courts & Tribunals Service (HMCTS) has issued guidance on making applications to recover money held by the High Court (Chancery Division). Released on 18 December 2025, the guidance covers three situations: surpluses from property repossessions when entitled parties cannot...

In this issue: Spring Budget 2024 Probate Court of Protection UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Digital assets and cryptoassets Charity and philanthropy Updated HMRC guidance: How the tax system operates for charities Contentious trusts and estates International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis®PSL community New and updated content Dates for your diary Trackers Latest Q&As Useful information Spring Budget 2024 On Wednesday, 6 March 2024, the Chancellor of the Exchequer, Jeremy Hunt, presented the government’s Spring Budget. For commentary on consultations and statements pertinent to Private Client practitioners, please see News Analyses: Spring Budget 2024—Private Client analysis and Video analysis—Spring Budget 2024: Key Private Client announcements. For coverage of corporate tax matters, consult News Analyses: Spring Budget 2024—Tax analysis and Video...

What is the community right to bid? The community right to bid was set out in sections 87–108 of the Localism Act 2011 (LA 2011). It enables local community groups to nominate buildings or land so that the local authority can list them as assets of community value. When a listed building or piece of land is put up for sale, or is due to change hands, a moratorium on the sale of up to six months can be applied, creating a window for local community groups to bid to purchase the asset on the open market. Importantly, the community does not gain a right to buy the asset, and there is no right of first refusal on sale. Rather, the community is only entitled to submit a bid for the asset, and it is afforded time, during the moratorium, to prepare a proposal for the asset. Throughout, the owner of the asset keeps the freedom to decide who to sell to, and at what price...

A property joint venture is a structure through which two or more parties bring together different contributions to realise value from the development, purchase or ongoing management of property. In most situations, that value is gauged by income streams or capital returns; however, certain joint venturers—such as local authorities—participate for social purposes, for instance in connection with urban regeneration programmes, community initiatives and similar projects. Contributions from the joint venturers typically comprise a combination of: cash, or the capacity to enter into funding commitments tangible assets (e.g. land) intangible assets (e.g. expertise, intellectual property, construction services, contractual rights, etc) Common participants in property joint ventures include property companies, developers, onshore institutional investors, offshore investors, landowners, local authorities and other public sector organisations. Why enter into a property joint venture? ...

This month, the East African Community Competition Authority confirmed it will accept merger filings with a cross-border aspect from 1 November 2025. EACCA to commence receipt of cross-border merger notifications; notifications thresholds and filing fees confirmed The East African Community Competition Authority (EACCA) stated it will start receiving notifications of mergers and acquisitions featuring a cross-border dimension from 1 November 2025, under the East African Community Competition Act 2006. A deal must be notified to the EACCA where: the combined turnover or asset value of the merging undertakings within the EAC is US$35m or more (whichever is higher); and at least two of the undertakings involved have a combined turnover or asset value of at least US$20m in the EAC, unless each party earns at least two-thirds of its turnover or holds two-thirds of its assets within a single EAC Partner State The EACCA has also set the filing charges, banded by transaction value: US$35m to US$50m:...

Part 5 of the Localism Act 2011 (LA 2011) introduced a range of measures concerning community empowerment. Among these, chapter 3 specifically obliges a local authority to keep a register of land within its area regarded as land of community value (LA 2011, s 87)...