The Budget 2016 included a number of important changes related to property.
Residential stamp duty land tax reforms
The chancellor has confirmed that, from 1 April, stamp duty land tax (SDLT) will be higher when an additional residential property is purchased for more than £40,000 in England, Wales and Northern Ireland.
Non-residential stamp duty land tax reform
The chancellor announced in his budget that slab rates of stamp duty land tax have been abolished for non-residential properties, as they were for residential property in 2014.
Stamp taxes measures announced in the budget
HMRC has summarised the changes to stamp taxes further to the announcement of the chancellor’s budget.
Cuts to business rates from 2017 announced in budget
The chancellor announced in the budget yesterday that, from April 2017, small businesses that occupy properties with a rateable value of £12,000 or less will pay no business rates.
The Property Section also covered the property implications of the Budget in our Spotlight of 18 March.