In today’s budget, Chancellor of the Exchequer, George Obsorne, announced a crack down, effective immediately, on various tax avoidance schemes including those relating to stamp duty land tax, such as purchasing a property using a company registered overseas. The Chancellor also announced an increase in the tax charged on high-value homes by introducing a new [...]
Budget
Landlords see Budget reforms on stamp duty and REITs
Landlords were promised some relief in yesterday’s Budget with Chancellor of the Exchequer, George Osborne, announcing that the rate of stamp duty land tax on purchases of multiple residential properties will, in future, be determined by the mean value of the dwellings purchased (subject to a minimum rate of 1% ), rather than their aggregate [...]
New shared equity scheme for first-time buyers
In today’s Budget, Chancellor of the Exchequer George Osborne announced help for first-time buyers in the form of a £250 million shared-equity scheme. Funded by income from the Bank Levy, the scheme aims to provide 10,000 families, as yet unable to raise the high deposits demanded by lenders, get onto the housing ladder. However, homes [...]
Commercial to residential property conversions to be made easier
Next month’s Budget will contain measures that make it easier for commercial properties across England to be converted into private dwellings, the BBC has reported. The move will cut the red tape involved in the planning process and could help create up to 250,000 new homes. Last week, the Institute for Public Policy Research claimed [...]
