Structures and Buildings Allowance – new 2% tax relief for new-build commercial properties
The Chancellor announced in the 2018 Budget that the government will introduce a new Structures and Buildings Allowance (“SBA”), at an annual rate of 2% on a straight-line basis for new non-residential structures and buildings. Since the old Industrial Buildings Allowance was phased out in 2010, capital allowances have only been available for plant and machinery, […]
Stamp Duty Land Tax For Overseas Investors
New legislation has recently been introduced (which is most likely to take effect from 1 April 2020) to charge a further 1% SDLT on non-residents buying UK residential property. This follows the additional 3% charge to SDLT for anyone buying a second home, which took effect from 1 April 2016. This will mean that shortly, […]