Property tax changes. Is incorporation the way forward?


In the Chancellor’s Autumn Statement he announced a further two measures affecting property ownership:

 

  1. Stamp Duty Land Tax – the introduction of an additional 3% rate of SDLT on the purchase of second properties, such as holidays homes and buy to lets, worth more than £40,000 from April 2016.
  2. Capital Gains Tax – CGT payable on the disposal of second homes required to be paid within 30 days of disposal from April 2019.

 

Alongside the restriction of tax relief on interest mortgage payments introduced in the previous budget, we are starting to see more and more clients consider incorporation.

 

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