Rat and Mouse
Wed
10
Oct
Yesterday's pre-budget report - the homes bit

No mention of any change re. Stamp Duty, no mention whatsoever of HIPs. But:

  • Inheritance Tax threshold rises to £600,000 for spouses and civil partners. What isn't clear is whether this does, in fact, represent a change from what was already possible with the help of a decent accountant. If there's a decent accountant reading... your comments would be very welcome.
  • proposals to encourage mortgage lenders to offer longer-term fixed-rate mortgages.
  • more homebuilding.
  • VAT reductions and other incentives to improve poor-quality housing and revitalise and fill empty homes.

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Comments

You forgot CGT - removal of taper relief means there's less incentive for Buy To Let speculators to hold onto their loss-making flats, they might as well sell and lock in the capital gains. Also long term holders will be dashing to sell up before April next year when the change comes into effect as they will revert to 18% CGT from their current full taper relief level of 10%.

Posted by Anonymouse at October 10, 2007 1:38 PM


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