05 July 2019
As of June 2019, the Government introduced a draft statutory instrument for the Structures and Buildings Allowance (SBA). The SBA is intended to encourage investment in the construction of new structures and buildings for commercial use.
06 March 2019
The government has issued a consultation paper on their proposals to charge an extra 1 per cent stamp duty land tax (SDLT) for non-resident purchasers of residential property.
29 October 2018
A number of changes in the budget will impact on the property sector. The restriction on the use of brought forward capital losses against gains could increase tax exposure on disposals by companies. Extending the holding period for entrepreneurs’ relief to two years will impact on some individuals disposing of their trading companies. A number of capital allowance changes were announced which will impact on property investors.
14 September 2018
The Government published draft clauses for Finance Bill 2018-19 on 6 July 2018. The published material included draft legislation relating to the taxation of capital gains on property; notably a change to the reporting and payment on account obligations for UK resident individuals and trustees with residential property gains. The changes will take effect for disposals on or after 6 April 2020, in line with announcements made at Budget 2017.
15 January 2018
The EU referendum has created a favourable landscape for overseas investment. While volatility acts as a break on domestic spending, the weak pound creates a big incentive for international investors. In the first three quarters of 2017, Chinese investors spent £6.4bn on UK property: up from £2bn in the same period in 2015.
22 November 2017
Mixed bag for individuals and businesses who will be impacted by chancellor’s Budget property announcement.
22 November 2017
Some individuals may benefit from some of the changes to residential property taxation, whilst others will pay higher ATED charges.
28 March 2017
The corporation tax regime is complex and subject to a wide range of anti-avoidance measures. A lower rate and additional deductions for management expenses should be welcomed.
09 March 2017
The Budget has not brought any major surprises to the property sector. Relief from rates for small businesses and pubs as well as the extension of anti-avoidance measures may impact on genuine businesses. Inheritance tax and the restriction of interest and corporate losses to be introduced in April are still a concern for the sector