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    We can also assist you with the wider issues involved in collector car ownership

    • Car collections and how to manage them
    • Tax planning – is your car collection an investment or could it be considered a trading asset
    • Restoration costs and contracts
    • National heritage assets – some classic, veteran and historic cars can be exempt of capital gains and inheritance tax when passed to a new owner as a gift or as the result of a death
    • Estate and inheritance planning
    • Storage
    • Transportation across international borders
    • Race and rally contracts and liabilities
    • Museum and event loans of vehicles
    Call Us Today
    Call our London office on 020 7822 4000 or our Brighton office on 01273 838734. You can also contact us online.
    Call Us Today
    London: 020 7822 4000 Brighton: 01273 838734 Or you can contact us online: Contact Us
    Safeguarding for the Future capabilities
    Safeguarding for the Future experiences
    • Advising a US owner of an historic 70's Porsche 911 race car, who became aware of another car residing in Europe, bearing the same chassis number, but differing race livery. Both cars carried divergent histories in early years, but which merged from the eighties. Both cars have been examined by expert marque engineers, whilst painstaking research has been undertaken both in the Americas and Europe, the outcome of which is yet to be concluded.
    • A client based in Hong Kong was the successful bidder at auction in London of a Bugatti carrying a body by James Young. Post auction, the buyer felt "unsure" about the car, when it was discovered that the sale was by the US auction house and not by an unconnected third party. In the event the "seller" could not prove title and was obliged to accept the return of the car, whilst refunding the purchase price as well as settling legal costs and all expenses.
    • Acting for an owner of a Jaguar D Type confronted by a claim from another party claiming that he owned the same, genuine chassis. As with all D Types, the tub has a chassis number, which number is also stamped on suspension and other parts. After a career spent racing the tub of the Jaguar was deemed "tired", when the parts were removed and re-fitted to a new tub, whilst the original tub was discarded. In due course the discarded tub was "refreshed with genuine new parts. The question arose as to which of the cars could be deemed to be genuine. The parties reached a reasonable conclusion.
    • Competition engines, by the very nature of their intended use, are subject to extreme stress and therefor wear. Competent re-builds usually produce the number of working hours expected, but in a small, but significant number of those rebuilds, poor workmanship can bring about major failure. Independent examination by expert engineers has often provided the basis on which we have founded a number of successful recovery actions.
    • Following a year of ownership of an Alfa Romeo Guilia Spider, the purchaser who had bought the car as a present for his daughter discovered that the car and documentation carried reference to two different chassis numbers, which anomalies were not disclosed, nor apparent at inspection. Advice is now being sought on the basis of the remedied that may be available based upon the misrepresentation of the seller.
    • Advising a client who wished to establish the authenticity of his 1949 Alfa Romeo 6c SS This car was bought at auction in the UK, having spent many years in Argentina. Doubts had been raised as to the authenticity of the car, to the extent that it had been labelled a "fake". An exhaustive forensic examination of the car was undertaken. In particular, a sample of metal was cut from the chassis and following analysis, was found to have been to have been cast in the year of manufacture, so establishing provenance beyond a reasonable doubt.
    • Appointed in 2004 to manage the dissolution of AC Car Group Limited, following a century of production ranging from 3 wheeled cars to the iconic AC Cobra.
    Safeguarding for the Future insights
    • Spring Budget 2021 Change ‘Generation Rent to Generation Buy’

      3rd March 2021

      In a bid to keep the UK economy stable, Chancellor Rishi Sunak announces new plans to support home buyers

      During today’s Spring Budget announcement, the chancellor confirmed that he would boost support for home buyers through a mortgage guarantee.

      Several major lenders including Natwest, Lloyds, Barclays, Santander and HSBC have agreed to provide 95% mortgages to home buyers in return for a government guarantee on those mortgages.

      Low-deposit mortgage accessibility has declined since the pandemic started, which has made home-ownership unreachable for many. But the government hopes that these plans will give more people the support and opportunity to buy their own homes.

      It was also announced that the Stamp Duty Land Tax holiday in England and Northern Ireland will be extended for purchases up to £500,000 until the 30th June, meaning home buyers avoid the stamp duty levy on purchases under that amount. After this date, the starting rate of Stamp Duty will be £250,000 until the end of September, before returning to the previous level of £125,000.

      Daniel Winslow, Partner and Head of Leasehold Services at Healys LLP comments:

      “In the end then the announcement was largely as anticipated, but for perhaps a few additional reveals here and there. In my view extending the SDLT holiday will provide a much needed crutch for the economy to rest its weight whilst its other limbs scramble for footing as we move out of lockdown. The tapering back of the SDLT thresholds is also an interesting development and one which I am in favour of. Suddenly stopping the SDLT holiday (whether at the end of March or the end of June) would have almost certainly lead to a shock to the market and to the economy as a whole. By delaying and then tapering back the SDLT limit (and introducing the 95% mortgages) the government clearly hopes to either stop that from happening completely or at least turn that cliff edge many have been talking about into a downward hill to an eventual (hopefully high) plateau. If property transactions do decline then by the time we all get to that plateau the economy will hopefully be ready to throw away its crutch and start running!

      “In terms of the 95% mortgages, I think this is an excellent introduction, provided of course it is done safely. It will give many perfectly worthy potential homeowners the chance to achieve their dreams where previously they would have been priced out of the market. Much talk has been made of a lack of housing stock, but when has there ever been enough housing? Also, who says only the cash rich should be entitled to be homeowners? I think it helps provide a level playing field, and it is one that I am all for.”

      Healys LLP are award winning conveyancing solicitors based in London, Brighton & Sussex. Our conveyancing solicitors have a vast amount of experience in property law and we deal with all aspects, including the purchases & sales of homes, freeholds, leaseholds, shared ownership schemes, remortgaging, lease extensions and more. For more legal updates or legal advice, please visit Healys LLP’s website.

       

    Safeguarding for the Future awards
    Safeguarding for the Future news
    • Spring Budget 2021 Change ‘Generation Rent to Generation Buy’

      3rd March 2021

      In a bid to keep the UK economy stable, Chancellor Rishi Sunak announces new plans to support home buyers

      During today’s Spring Budget announcement, the chancellor confirmed that he would boost support for home buyers through a mortgage guarantee.

      Several major lenders including Natwest, Lloyds, Barclays, Santander and HSBC have agreed to provide 95% mortgages to home buyers in return for a government guarantee on those mortgages.

      Low-deposit mortgage accessibility has declined since the pandemic started, which has made home-ownership unreachable for many. But the government hopes that these plans will give more people the support and opportunity to buy their own homes.

      It was also announced that the Stamp Duty Land Tax holiday in England and Northern Ireland will be extended for purchases up to £500,000 until the 30th June, meaning home buyers avoid the stamp duty levy on purchases under that amount. After this date, the starting rate of Stamp Duty will be £250,000 until the end of September, before returning to the previous level of £125,000.

      Daniel Winslow, Partner and Head of Leasehold Services at Healys LLP comments:

      “In the end then the announcement was largely as anticipated, but for perhaps a few additional reveals here and there. In my view extending the SDLT holiday will provide a much needed crutch for the economy to rest its weight whilst its other limbs scramble for footing as we move out of lockdown. The tapering back of the SDLT thresholds is also an interesting development and one which I am in favour of. Suddenly stopping the SDLT holiday (whether at the end of March or the end of June) would have almost certainly lead to a shock to the market and to the economy as a whole. By delaying and then tapering back the SDLT limit (and introducing the 95% mortgages) the government clearly hopes to either stop that from happening completely or at least turn that cliff edge many have been talking about into a downward hill to an eventual (hopefully high) plateau. If property transactions do decline then by the time we all get to that plateau the economy will hopefully be ready to throw away its crutch and start running!

      “In terms of the 95% mortgages, I think this is an excellent introduction, provided of course it is done safely. It will give many perfectly worthy potential homeowners the chance to achieve their dreams where previously they would have been priced out of the market. Much talk has been made of a lack of housing stock, but when has there ever been enough housing? Also, who says only the cash rich should be entitled to be homeowners? I think it helps provide a level playing field, and it is one that I am all for.”

      Healys LLP are award winning conveyancing solicitors based in London, Brighton & Sussex. Our conveyancing solicitors have a vast amount of experience in property law and we deal with all aspects, including the purchases & sales of homes, freeholds, leaseholds, shared ownership schemes, remortgaging, lease extensions and more. For more legal updates or legal advice, please visit Healys LLP’s website.

       

    Call Us Today
    London: 020 7822 4000 Brighton: 01273 838734 Or you can contact us online: Contact Us