Sunday October 25, 2020

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

18th October, 2020
The decision to extend the Help-to-Buy incentive scheme to the end of 2021 is positive for the provision of residential accommodation

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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