Impact on business - big change hidden in red book

November 22, 2017

0 comments

Kevin Nicholson Head of Tax

Email +44 (0)7703 130953

 "While the Budget speech contained no shocks, with so many giveaways there will inevitably be losers.

"One of the biggest potential changes is extending taxation to overseas investors in UK commercial property.  This marks a major change in direction and could undermine the attractiveness of investment in UK infrastructure at a time when it's needed most.  Ultimately it could lead to a rise in rents, and so it's not clear how it reconciles with the Chancellor's rhetoric on housing and keeping the UK fit for the future.  A consultation has been announced and factors such as the impact of cost and availability of property will need to be taken into account.

"There was lots of mood music on all things tech, digital, and skills related, but businesses were looking for a vision beyond the here and now and I'm not sure they got it."

Kevin Nicholson Head of Tax

Email +44 (0)7703 130953