The Law Society has recently launched two new practice notes – on contaminated land and tax for sole practitioners – and published an update of another – on flood risk – of interest to property practitioners.
The tax for sole practitioners practice note explains some recently introduced schemes, such as cash-basis accounting and simplified expenses, which are intended to simplify tax returns for the self-employed.
The contaminated land practice note outlines the environmental liabilities that may arise when dealing with property transactions that involve contaminated land. It also sets out the types of enquiries that can be made in such transactions.
The flood risk practice note has been updated to reflect the proposals to introduce the Flood Re insurance scheme and the new Environment Agency flood maps. Specific information in relation to Wales has also been added.