Bite-sized Legal Update: Share of the freehold: potential tax ramifications where leases have not been extended

Property partner, Katherine Simpson, explores the tax issues that can lurk where a leaseholder owns a share in the freehold company but the lease of their flat has not been extended. Katherine identifies the tax liabilities that might be triggered both for the freehold company and the shareholder/leaseholders on the grant of 999 year leases of the flats in the building, and puts forward a possible solution.