Real Estate: the property climate and what's driving tax changes

 

In this episode Chris Springett from S&W speaks with Will Tremlett from Sotheby’s International Reality on the property climate and what is going on in the market at the moment that is driven by the tax changes we’ve seen.

 

 

The property market has seen great changes over the past three years due to the taxes. On stamp duties changes that have been rising extraordinary over the past years, the buy-to-let taxes; if this will make individuals less attractive, foreign buyers.

Key topics covered:

  1. Property climate what is going on in the market driven by tax changes; introduction of ATED (annual tax on envelope dwellings)
  2. The way people are focusing on acquisitions
  3. Extension of tax base for non-residents/international buyers
  4. Stamp duty changes and the impacts it has had: SDLT surcharges,
  5. Changes and impact in the buy-to-let market – restriction on mortgage relief for landlords
  6. What might be coming in the future; capital gains tax and when individuals will need to prepare and make a payment , changes on private residence relief
  7. On the horizon, PM Boris Johnson lifting the SDLT (stamp duty land tax) thresh hold to £500k before paying SDLT and cutting top rate to 7%
  8. Phasing out of SDLT for owner occupied homes

References

Consultation into main residence relief
https://www.gov.uk/government/consultations/capital-gains-tax-private-residence-relief-changes-to-the-ancillary-reliefs

CGT payment window
https://www.gov.uk/government/publications/capital-gains-tax-and-corporation-tax-on-uk-property-gains/capital-gains-tax-payment-window-for-residential-property-gains

Surcharge for foreign buyers
https://www.gov.uk/government/consultations/stamp-duty-land-tax-non-uk-resident-surcharge-consultation

Labour property report
https://landforthemany.uk/

Boris Johnson on SDLT
https://www.telegraph.co.uk/property/uk/would-boris-johnsons-stamp-duty-plans-mean/

 

   



If you have a podcast query, Please contact:

Laura Burrows
Media & Advertising Assistant Manager
podcast@smithandwilliamson.com



This episode was recorded on 18/07/2019

This S&W The Pulse podcast is of a general nature and is not a substitute for professional advice. No responsibility can be accepted for the consequences of any action taken or refrained from as a result of what is said. The views expressed are not necessarily those of the presenter or of Smith & Williamson or any of its affiliates. No reproduction of this podcast may be made in whole or in part for professional or recreational purposes. No action should be taken based on this podcast and we accept no liability if we change your views on any of the subjects mentioned.

Smith & Williamson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International.

 

Podcast information:

The Pulse from Smith & Williamson

Real estate: What buyers ask us and what sellers need to get advice on

Episode 1

Broadcast on at 09:00, 18th of JULY 2019

Available online from 10:00 on the same day .

Cookie Settings