Glossary

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There are currently 9 names in this directory beginning with the letter S.
Schedule of dilapidations
Schedule of dilapidations - A list of the requirements of repair and maintenance which a tenant (or landlord) is obliged to make good under the terms of a lease or tenancy of a property. Interim schedule is during the course of the lease, a terminal (final) schedule at expiry. In the latter case, the obligation is usually discharged by a cash payment.

Section 104 Agreement
Section 104 Agreement - An agreement under S104 of the Water Industry Act 1991 by which a developer agrees to construct sewers to a specified standard, and the local water company agrees to maintain them after completion of construction and expiry of the maintenance period. On adoption the sewer will become a public sewer.

Section 106 Agreement
Section 106 Agreement - A legally enforceable agreement between the local planning authority and the owner of any land in their area, where the applicant is seeking planning approval and is used by Local Authorities to document the contribution the developer is to undertake to carry out works for the benefit of the community.

Section 24
Section 24 - Private can no longer claim mortgage interest as tax deductible expense. introduced in April 2017 and fully phased in 2020. This is replaced with the 20% flat rate relief.

Section 38 Agreement
Section 38 Agreement - An agreement under the Highways Act 1980 by which a developer agrees to construct a road to a specific standard at the taxpayers expense.

Selective Invoice Discounting
Selective Invoice Discounting - Also known as spot finance and single finance allows a business to get an advance from an invoice discounter against specific invoices.

Stamp Duty Land Tax
Stamp Duty Land Tax - A tax levied when you buy houses, flats and other land and buildings over a certain price in the UK.

Sub Lease
Sub Lease - A lease provided to the tenant of a property by the holder of a head lease.

Sui Generis HMO Planning
Sui Generis HMO Planning - Allows for the use of a dwelling house as an HMO with up to 7 unrelated residents sharing amenities such as bathroom and kitchen.