 |
| LATEST LATEST LEGAL NEWS ARCHIVE |
LATEST NEWS & EVENTS Commercial property 'will not be too affected by stamp duty rise'  The commercial property market in the UK will not be particularly affected by the rise in stamp duty announced by the chancellor, it has been claimed. In his budget earlier this week, Alistair Darling said the tax on properties worth more than £1 million was rising from four per cent to five per cent. This is partly to help balance the government's books and also to help fund a drop in stamp duty for properties worth under £250,000. According to Daniel Churchill, director of Commercial 1 Limited, the increase in the levy on more expensive buildings is disappointing, Bridging and Commerical reports. However, he added it was "probably necessary" and the UK is not currently seeing many new deals at this level in the current climate. He went on to claim that the drop in the tax for smaller properties may prove beneficial. Mr Churchill remarked: "I can see this helping existing small businesses that have previously been renting and were thinking about buying their first commercial property, as well as assisting any potential new business start-ups." The Budget contained a range of cost-saving measures as the government is keen to reduce the debt it incurred due to the economic crisis. 
Related Articles: 30/3/2012 - EPC changes to affect buy-to-let landlords 27/3/2012 - Rent increases drive strong buy-to-let yields 27/3/2012 - Property industry welcomes 'sensible' planning reforms 2/3/2012 - Arla advises landlords to 'invest wisely' 1/3/2012 - Basel III could hit commercial property lending More Property Law News |
|||
| © 2012 Lamport Bassitt | DEFAULT ZOOM | DISABILITY INFORMATION | LEGAL INFORMATION |