Hello all, after a bit of advice as I'm not getting anywhere with local accounts.
The situation:
Trying to extend a 66 year lease on a flat I own to complete a sale. I also own a 1/7 share of the management company that holds the freehold along with the 6 other flat owners. I am currently a director of this company. We employ and outside agent to manage. The freehold was bought by the owners in the 80's this is the 1st time anyone in the block has tried to extent.
The owners have agreed a nominal fee of £1 to grant the extension. The managing agent feels this would cause the company to have a CGT liabilty which he is suggesting that I will have to pay.
Can anyone confirm if this is correct and if so offer any solutions to reduce any cost?
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