Page 16 - Lettings Revolution
P. 16
Evolution of the P
Primary Tenancy Due
Diligence summary
The idea for the primary tenancy was conceived in early 2008,
internal discussions and work on pilot procedures began in May
2008. There followed a sequence of steps which culminated in
our receiving a clean bill of health following a VAT inspection
requested by us for the purpose which occurred on the 9th July
2010.
May 2008 Sept 2008 Oct 2008
Internal discussion and Presentation of the Letter from our Auditors
the creation of proposals to the to HMRC setting out
proposed pilot Auditors followed by our proposals and
procedures. changes to processes asking for their opinion.
and procedures.
Jul 2010 Jun 2009 Apr 2009
Date of successful VAT Opinion received from Letter from HMRC
inspection. Solicitors confirming confirming receipt of
that the primary our request.
tenancy creates the
required legal interest
in land.
and finally...
Finally, as part of the process of running Primary
Tenancies we have now had several occasions where
we have had to go to court to evict tenants acting as
Landlord, not agent, or to represent ourselves as the
Landlord with the disputes service with no issues
arising.
Primary Tenancy Due
Diligence summary
The idea for the primary tenancy was conceived in early 2008,
internal discussions and work on pilot procedures began in May
2008. There followed a sequence of steps which culminated in
our receiving a clean bill of health following a VAT inspection
requested by us for the purpose which occurred on the 9th July
2010.
May 2008 Sept 2008 Oct 2008
Internal discussion and Presentation of the Letter from our Auditors
the creation of proposals to the to HMRC setting out
proposed pilot Auditors followed by our proposals and
procedures. changes to processes asking for their opinion.
and procedures.
Jul 2010 Jun 2009 Apr 2009
Date of successful VAT Opinion received from Letter from HMRC
inspection. Solicitors confirming confirming receipt of
that the primary our request.
tenancy creates the
required legal interest
in land.
and finally...
Finally, as part of the process of running Primary
Tenancies we have now had several occasions where
we have had to go to court to evict tenants acting as
Landlord, not agent, or to represent ourselves as the
Landlord with the disputes service with no issues
arising.
