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Budget: Property

Charles Beer, of KPMG LLP, laments a Budget of missed opportunity for the property industry

 
Charles Beer of KPMG LLP laments a Budget of missed opportunity for the property industry
 
For the property industry this was a Budget of missed opportunity. The few measures that were introduced affecting the industry were helpful at the margin but the Chancellor chose not to introduce more extensive reforms particularly to the SDLT and REIT rules which could have helped to revive the property market.
Stamp Duty Land Tax
 
At 4% on sales over £500 000 SDLT is a significant drag on the market at a time when values are falling. If there was ever a time...

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