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Tag Archives: Budget 2016

Posted in Real Estate News

Would you sell your own grandfather?

The dust has largely settled since the shock rise in SDLT rates on commercial property transactions announced in the Budget on 16 March.    However, the SDLT changes still possess the power to trap the unwary – especially those who sought to avoid the increases by rushing transactions through before the Chancellor’s midnight deadline. When HMRC

Posted in Real Estate News

Budget 2016: SDLT on additional residential property

To compound the misery within the industry following the increases in SDLT rates on commercial transactions, a mooted exemption for large scale residential investors has also not materialised. George Osborne confirmed yesterday that they will indeed be subject to the extra 3% rate on purchases of additional residential properties. In the recent consultation, an exemption

Posted in Real Estate News

Budget 2016: SDLT strikes soft targets

There were audible gasps at MIPIM yesterday as the Chancellor unveiled his shock raid on the commercial property industry. SDLT rates on commercial freehold and lease premium transactions have changed, so they are now applied in a similar way to residential properties. Until the Budget, the SDLT rates on commercial property applied to the whole

Posted in Real Estate News

Budget Banishes CRC – And An Extension Of ESOS Could Still Be On The Cards

The Chancellor announced in today’s Budget that the Carbon Reduction Commitment (CRC) will be abolished, with effect from 2019. The financial aspects of the CRC will be replaced by an increase in the Climate Change Levy, which will be much simpler administratively and largely resolve the “split incentive” issue that has arisen in commercial lease