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Changes, changes and more changes

The changes announced in the autumn statement alongside those to be brought in by the Finance Bill 2016 are sure to keep advisers on their toes in the new year

15 December 2015

This year's autumn statement and spending review contained various interesting measures for private clients. Rumours had circulated that the government was planning 'stealth' rises in capital gains tax (CGT), coupled with cuts in valuable tax reliefs like entrepreneurs' relief to increase tax revenue, and counter fiscal pressures.

Fortunately these did not materialise, but the main losers from the statement were, in fact, land-owners and second home owners.

Stamp duty land tax

From 1 April 2016, individuals purchasing a second property such as a buy-to-let property or a second home will be hit with higher rates of stamp duty land tax (SDLT).

The rates will be three percentage points above the current SDLT rates, (for residential properties with a sale price in excess of &pou...

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