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Budget 2016

On Wednesday 16 March 2016, George Osbourne delivered his 8th budget as Chancellor. Among a raft of tax changes, hitting the real estate sector particularly hard, there were also announcements of funding for key infrastructure projects and cuts to capital gains tax.

Budget highlights 2016:

  • Commercial stamp duty land tax (SDLT) changes to a new progressive system, with a top rate of 5%;
  • increased SDLT on high value leases;
  • new rules targeted at non-resident companies that develop or trade in UK real estate;
  • Corporation tax to be reduced to 17%;
  • Capital gains tax reduced to a maximum of 20% on most gains;
  • Entrepreneurs relief to be extended;
  • Crossrail 2 and HS3 receive the green light and initial funding.

Read our blog articles for more insight and see the press quotes below for the opinions of our experts on the changes.

Press Quotes

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