I
The use of the words Cowboy and Muppets is truly inappropriate.
mf
I can understand that anyone involved in the profession is offended by insults like "cowboy" or "muppet". But I can see why titles such as those would be applied. Whle it is probably a small minority of the legal profession who have acted unprofessionally, that is enough to instil fear and distrust in the general public, for whom Law is already an unfamiliar area. As far as I am aware, the legal profession is one the few (or only?) profession that still self-regulates - I believe this leaves the whole profession vulnerable to the incompetence/dishonesty of a few.
I don't think it is true to say either that the legal profession self-regulates or that all the others are not self-regulatory. I and others have posted before on the actual mechanisms of regulation of solicitors which already include a board made up of both solicitors and non-solicitors and appeals to court etc. Also shortly to come is the ombudsman which is largely welcomed by the members of the law society, myself included. This is not because I think that regulation to date is flawed but because public perception of it is- law must be done AND seen to be done.
I encountered a similar problem - when I redeemed my mortgage I found out that it had taken 5 years to register the deeds. I was deciding whether to sell my PPR or rent it out for a few years before selling. A big factor in the decision was the amount of CGT that would have to be paid. The calculation is (total_time - time as PPR) / (total_time) x 0.2 x salePrice. The kicker was that my new solicitor advised that the time as PPR did not count until the deeds were registered. Therefore my tax liability would be much greater if I was to rent it out. By selling it immediately, I could avoid a tax dispute. So I sold in May 2006.Can anyone confirm the tax implications of the registration delay? Will it affect Somehope?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?