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Property and the Spring Budget 2017

Property and the Spring Budget 2017

Spring Budget 2017 has left most the UK property businesses disappointed as there was no change to SDLT (Stamp Duty Land Tax) and new buy-to-let taxes despite numerous industry calls for the rethink of the both.

Here below are the main points from the Spring Budget 2017

  • UK economic growth hiked to 2 per cent from 1.4 per cent this year but the forecast growth rate until 2021 remains the same
  • Borrowing bill to fall faster than expected next year but broadly unchanged over the next four years
  • Adult Social Care: £2bn of additional funding over the next three years
  • National insurance for self-employed to increase by 1% from April next year
  • NHS: £425m investment in the next three years
  • Business Rates: £1k discount for around 90 per cent of pubs in the country
  • A £300m fund for businesses facing steep increases in business rates
  • Tax-free dividend: reduction from £5k to £2k

 

For the full Spring Budget 2017 see here: https://goo.gl/ayBorG

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