Budget 2021: A budget to build on
This is not a time for extreme policy swings, but it’s hoped that the extra cash flowing from the exchequer will help shore up the real estate sector
Budget 2021 was neutral from a commercial property perspective but, disappointingly, it failed to address key challenges faced by all sectors.
Stamp duty, at 7.5 per cent, the second highest rate in Europe and a deterrent to investor activity, was left unchanged. The government did, however, extend the Stamp Duty Residential Development Refund Scheme. This programme provides a refund for developers of residential property where they incur a 7.5 per cent stamp duty on commercial ...