Smaller properties are being purchased in central London rather than larger houses as people reduce the amount of time they spend in London.
The Victim and Prisoners Act 2024 which comes into force on the 1st October 2025 makes clear in statute that non-disclosure agreements such as settlement agreements cannot be enforced in so far as they seek to prevent victims from reporting crime to the police.
Under section 17 of the Victims and Prisoners Act 2024, non-disclosure agreements signed on or after 1 October 2025 will not be enforceable against victims of crime in relation to the disclosure of information about relevant conduct to the following groups and for the following purposes:-
Police or other bodies which investigate or prosecute crime, for investigating or prosecuting the relevant conduct
Qualified lawyers, for seeking legal advice about the relevant conduct
Regulated professionals (including regulated healthcare professionals), for obtaining professional support in relation to the relevant conduct
Victim support services, for obtaining support in relation to the relevant conduct
Regulators, for cooperating with the regulator in relation to the relevant conduct
To a person authorised to receive information on behalf of any of the above, for the relevant purposes mentioned above
A victim’s close family, for the purpose of obtaining support in relation to the relevant conduct.
The last three months of last year saw a phenomenal increase in court cases brought to block the administration of family estates. This process is known as applying for a caveat to stop or delay a grant of probate necessary for the distribution of a persons assets e.g. for obtaining funds from a bank, the sale of a property or investments.
The compensation and termination rates from the 6th April 2025 for settlement agreements will be:-
Maximum basic award for unfair dismissal £21,570
Maximum compensatory award for unfair dismissal £118,223 (or 52 weeks gross pay if less)
Maximum statutory redundancy payment £21,570
A weeks pay £719 per week.
London and more generally the United Kingdom has always offered superb investment opportunities for foreign property buyers. It is therefore important to appreciate the various taxes that could be levied against you:-
1) Inheritance Tax 2) Capital Gains Tax 3) Annual Tax for Enveloped Dwellings – a tax on companies that own properties used by their owners 4) Income Tax 5) Stamp Duty Land Tax
A competent property solicitor would be able to advise you on how to minimise these potential liabilities.
The two year wait that a lessee has had to endure to extend their residential lease has been removed from next Friday 31st January 2025 as section 27 of the Leasehold and Freehold Reform Act 2024 (removal of qualifying period before enfranchisement and extension claims) comes into force.