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how sacred are HM Land Registry returns?

how sacred are HM Land Registry returns?

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company has filed a transfer of title with land registry using a valuation which we think was too high (intra-group transfer so no sdlt).

How difficult is it to amend the documents at HM Land Registry? the reason I ask is that i don't want to use that value in the accounts 

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10th Jul 2019 20:58

I would suggest your clients check with the solicitors exactly what documentation was prepared (sale contract etc) on the sale.
If there was a contract signed by the two companies to sell / buy the land for a consideration of £x then that is what happened, isn't it?
David

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to davidwinch
11th Jul 2019 10:20

thanks David i have had further thoughts on this viz.
if trading company A transferred property to company B using i/co loan as consideration and the market plummeted so that co. B can't pay full amount that sounds like a specific bad debt provision

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to nick farrow
11th Jul 2019 11:38

This is a completely different question from your original one - but yes, if B is insolvent, and A is one of its creditors, A has a bad debt to the extent of the loss it seems likely to suffer, which it should provide for in its next accounts.

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to johngroganjga
11th Jul 2019 11:59

thanks John I agree

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