“The Spring 2017 Budget was unremarkable from a residential property perspective,” said Caroline Takla, Founder & Managing Partner. “It was disappointing that there were no reforms to SDLT (Stamp Duty Land Tax) and landlord taxes, which have been dampening the market over the last few years. However, this was to be expected given SDLT receipts to HMRC are up.
We welcome the fact that there haven’t been further draconian reforms to residential property taxation, although the reduction of the tax-free dividend allowance from £5,000 to £2,000 is a veiled tax for UK residents purchasing buy-to-let properties through UK companies. On balance though, compared to previous budgets and autumn statements, this is less significant”.