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
