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Budget 2007 — Property

Charles Beer, Head of Real Estate Tax at KPMG, looks at the key issues in the Budget relating to property

 
Charles Beer Head of Real Estate Tax at KPMG looks at the key issues in the Budget relating to property
 
This Budget was probably not a good Budget for property investors. The changes in the corporation tax and income tax regimes are unlikely to be beneficial overall. However there was some good news in the potential changes to authorised investment fund taxation and also the consultation on land remediation relief.
Rates of tax and capital allowances
 
The reductions next year of the corporation tax rate to 28% and the basic rate of income tax to 20%...

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