Government backs controversial Law Commission proposals
07/01/2021
Almost one year after the Law Commission's valuation report was published, the Government has now confirmed that it intends to adopt the most radical valuation proposal - Scheme 1. The valuation announcement today includes removal of marriage value, prescription of rates and an online calculator to name but a few. The announcement also confirms 990-year lease extensions and reversal of the retirement sector exemption from the ground rent ban. The Government's full announcement can be found here.