As the UK approaches Labour’s first Budget in over a decade, leaders in the prime residential sector brace for potential tax hikes. The proposed increases to Capital Gains Tax, adjustments to Stamp Duty, and a possible end to non-dom status have sparked concerns among industry experts. PrimeResi Journal’s recent survey found 44% of respondents identifying CGT changes as the top worry, with many fearing the impact on landlords and second homeowners.
Amid these concerns, industry professionals also advocate for reforms like reducing Stamp Duty to help stimulate the housing market. By easing the transaction tax burden, the government could create new opportunities for buyers, improving market movement and overall economic stability.
Head of London Buying, Ashley Wilsdon, has been mentioned in this article.
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