Property and Construction Current Issues

The buy-to-let market is thriving, but the government’s recent tax changes for landlords, announced in the Summer Budget and recent 2015 Autumn Statement, will significantly increase landlords’ tax bills and, in some cases, to a massive extent. The changes include restrictions on interest relief, a new Stamp Duty Land Tax 3% surcharge, removal of wear and tear allowance and accelerated capital gains.

• Is it time to say ‘bye’ to buy-to-lets?

For more information please get in touch.

SDLT is a significant issue for property developers and investors seeking to maximise profits and achieve costs inefficiencies on projects. On big tax changes that the Chancellor announced in the 2015 Autumn Statement was a new 3% surcharge on stamp duty when a person buys an additional residential property that costs more than £40,000. The impact for landlords with several properties could be huge.

• A new 3% surcharge on Stamp Duty Land Tax

For more information please get in touch.

The Chancellor announced in the Summer 2015 Budget that the Annual Investment Allowance will be set permanently at £200,000 from 1 January 2016. He has previously said that this would be included in the Autumn Statement, but this earlier announcement provides welcome certainty for businesses.

• Chancellor gives Annual Investment Allowance certainty

For more information please get in touch.

On 23rd June 2016 the UK voted to leave the European Union. From the argument over selling bendy bananas to the threat of an emergency Budget, the EU referendum campaign has undoubtedly had its share of the headlines over the past couple of months. The biggest headline now though is of course that the UK has voted to leave the EU.

• What does Brexit really mean for you?

For more information please get in touch.

R&D tax relief is a widely available, but often overlooked relief for construction companies. There has been an unprecedented rise in the number of companies successfully claiming R&D tax credits, with the Government pushing the incentive through increased rates and relaxed qualifying conditions. Yet, many construction businesses still do not realise that they have qualifying R&D projects. To claim this generous tax relief, you don’t have to work in a lab and wear a white coat; you may be surprised how broad the qualifying conditions are.

For more information please get in touch.