How will it be handled?
HM Revenue and Customs have applied a 20% increase to local authority CON29 searches with effect from 1 January 2017.
Local authorities have indicated that they may deal with the added tax differently, with some proposing to absorb the added cost, and others suggesting they will review their pricing altogether. For now though, we simply don’t know who will bear the brunt of the additional cost and what impact the adjustments will have on the process as a whole. Understandably, there is concern that the change could also lead to delays on search requests across the board.
Searching for an answer?
In light of such uncertainty, search insurance stands to become an increasingly efficient asset. You won’t be surprised to hear that Isis Conveyancing offers a range of search policies, covering CON29 and LLC1 searches as standard. Our Search Delay policy will help to keep things moving along if searches are late, and in some cases our cover can effectively replace the entire process.
With the backing of an A-rated insurer and cover starting from as little as £15, why not get in touch with us on 01603 761515, or get a quote from ICON?