The Chancellor, Rachel Reeves, delivered Labour’s long-awaited Autumn Budget this afternoon. In recent months, speculation has been rife about significant changes to Stamp Duty Land Tax (SDLT) and even the possible abolition of Principal Private Residence Relief for Capital Gains Tax (CGT) when selling a main home. Unsurprisingly, this uncertainty has led to serious hesitation in the market, with many buyers and sellers delaying decisions until after the Budget. Conversely, some parties accelerated transactions to exchange and complete ahead of today’s announcement to avoid any potential changes.
In the end, it has proven to be speculation. Only two measures announced today are likely to have a direct impact on the property market:
Click here to read Our Take On The Autumn Budget.