UK Budget 2016: Property Investors Treated To More Tax Relief
In the most recent Budget, it was established that changes had been made to the Entrepreneurs’ Relief that would not only ease London’s housing crisis but also aide investors.
Under its new conditions, external investors will be able to benefit from a 10% tax rate on profits up to £10 million if they sell their shares after three years, whereas previously they needed to be 5% shareholders and become directors to qualify.
As stated by Cormac Marum, of Harwood Hutton, “This is a good move by the Government and ought to encourage small-scale local property developments by entrepreneurs. It should encourage the construction of the type of low-cost housing London desperately needs.”
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