There have been significant changes this year regarding how Family Law is practised in England. Continue reading →
Foreigners who are purchasing high value properties in the UK, particularly in London, are exposed in greater measure to inheritance tax, particularly if the properties have future growth potential. On a property valued at £2 million, the exposure to inheritance tax at 40% (even after taking account of the additional nil rate band, currently £325,000, of a pre-deceased spouse added to that of a surviving spouse), is currently £540,000. Continue reading →
Stamp Duty Land Tax (‘SDLT’) on residential properties has historically operated on a ‘slab’ system, meaning that a single rate of tax was charged on the whole amount of the transfer price, depending upon the rate applicable within the relevant charging band. Continue reading →
Few bank managers back in 2006 were aware of the consequences of signing the terms of the conditions of the Swiss Francs mortgage with their customers. Fewer bank employees were in a position to explain the dangers that this product had for the clients. Continue reading →
You’ve got a mortgage and bought a property. You probably think that rent will be a thing of the past and that you will be free to allocate your money to repairs and maintenance as and when you are able. However if you’ve bought leasehold property you will not be the owner of the building in which the property is located. The freeholder will own the building. The leaseholders are usually required to pay all costs of insuring, repairing, maintaining, cleaning and managing the building through payment of a regular service charge. The service charge is a variable sum as costs will alter from year to year. Most leases also require payment of ground rent which is usually a fixed nominal amount specified in the lease. Continue reading →
Bear Scotland Ltd & Others v Fulton & Others
Hertel (UK) Ltd v Woods
Amec Group Ltd v Law & Others
All employees have a right to paid holiday. The question is how much pay should they get e.g. basic salary only, salary plus commission, plus overtime? Continue reading →
Ongoing work from Marios Pattihis, Senior Partner, and the Healys’ International team has resulted in strengthening relations and trade between Cyprus and Saudi Arabia.
The Chamber of Commerce of Nicosia and the Chamber of Commerce of Jeddah, Saudi Arabia proceeded in signing the Memorandum of cooperation of twin cities which took place on the 16th September 2014 at the CCT’S offices in Nicosia.
The cooperation protocol was signed by the President of the CCI in Nicosia Mr. Costas Georgallis and Sheikh Khalaf Bin Houssan Al Otaibi of the Jeddah Chamber.
The President of the Chamber of Commerce in Nicosia said the twinning of the two Chambers will be a decisive factor for the further strengthening of business relations between members of the two Chambers by establishing a bond that will aim to develop the two cities.
He then said that Cyprus can be the gateway to Europe and Saudi Arabia the gateway to the wider Middle East.
Sheikh Khalaf Bin Houssan Al Otaibi said the prospects for cooperation are indelible and specifically mentioned the need to resume direct flights to Saudi Arabia which will lay the foundation for significant growth in tourist arrivals to the country, not only through Saudi Arabia but also through neighboring countries.
And in particular, Sheikh Khalaf Bin Houssan Al Otaibi referred to the prospects of commerce, construction and education that might have in Cyprus.
The signing ceremony was also attended by the Minister of Energy, Commerce, Industry and Tourism, Mr George Lakkotrypis, the Ambassador, Mr Leonidas Pantelides, the Director of the Middle East and North Africa, the Mayor of Nicosia Mr.. Constantine Yiorkatzis, the Jeddah Chamber Dr.. Mansoor Bin Saleh Al-Khonbizan, Mrs. Ghada Alim Aledreesy, the CCCI President Mr. Phidias Pilidis, the President of CIPA Mr. Christodoulos Angastiniotis and Members of the Board of CCI of Nicosia.