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 land...
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