{"id":21701,"date":"2018-10-23T08:32:44","date_gmt":"2018-10-23T07:32:44","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=21701"},"modified":"2018-10-23T08:32:44","modified_gmt":"2018-10-23T07:32:44","slug":"rumours-circulate-about-property-markets-place-in-autumn-budget","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/2018\/10\/23\/rumours-circulate-about-property-markets-place-in-autumn-budget\/","title":{"rendered":"Rumours circulate about property market\u2019s place in Autumn Budget"},"content":{"rendered":"

Chancellor of the Exchequer Philip Hammond<\/b>\u00a0will\u00a0<\/b>reveal<\/b>\u00a0the plan for the 2018 Autumn Budget on\u00a0<\/b>29<\/b>\u00a0<\/span><\/b>October, and new changes for buy-to-let landlords are\u00a0<\/b>being\u00a0<\/b>speculated<\/b>.<\/b>\u00a0<\/span><\/p>\n

Brexit\u00a0is likely to\u00a0be the main\u00a0focus\u00a0of\u00a0the Autumn Budget. However, given the Government has put improving the\u00a0housing sector<\/a>\u00a0as a\u00a0high priority on their agenda, many\u00a0are predicting the property market will be effected in some way.\u00a0Numerous\u00a0rumours\u00a0are\u00a0circulating\u00a0about\u00a0what the Budget could mean for the property market,\u00a0and in particular\u00a0buy-to-let landlords.\u00a0<\/span><\/p>\n

Predictions\u00a0<\/b>involving<\/b>\u00a0buy-to-let landlords<\/b>\u00a0& tenants<\/b>\u00a0<\/span><\/p>\n

Many news outlets are analysing the\u00a0possible changes buy-to-let landlords could see in the\u00a0Autumn Budget.\u00a0In a\u00a0recent\u00a0article on\u00a0Landlord Today<\/i>, Andrew Turner,\u00a0chief executive of\u00a0 Commercial Trust Limited,\u00a0shared\u00a0his predictions, including the\u00a0possibility of tax breaks for\u00a0longer tenancies<\/a>.\u00a0\u00a0<\/span><\/p>\n

Mandatory\u00a0longer-term tenancies continue\u00a0to be debated in Parliament.\u00a0For a\u00a0year, there has been speculation\u00a0that landlords could\u00a0be incentivised\u00a0to offer longer term tenancies\u00a0through tax breaks, so it is possible this will be announced as part of\u00a0the Budget.\u00a0<\/span><\/p>\n

Additionally,\u00a0landlords\u00a0and\u00a0tenants\u00a0could\u00a0potentially\u00a0receive\u00a0a\u00a0capital gains tax\u00a0break\u00a0when\u00a0a property is sold to a\u00a0sitting\u00a0tenant\u00a0of\u00a0at least three years.\u00a0Currently, landlords pay up to 28% on profits\u00a0for capital gains tax.\u00a0\u00a0<\/span><\/p>\n

The\u00a0tax break is a proposal from the think\u00a0tank Onward, which claims\u00a0the policy would benefit nearly half a million households\u00a0over five years with an\u00a0average capital gain of\u00a0\u00a315,000\u00a0per property.\u00a0The ultimate intent is to\u00a0encourage\u00a0tenants\u00a0to make the transition\u00a0from renting\u00a0to homeowning.\u00a0\u00a0<\/span><\/p>\n

Are further s<\/b>tamp duty<\/b>\u00a0changes on the horizon?<\/b>\u00a0<\/span><\/p>\n

Many have urged Hammond to\u00a0overhaul stamp duty<\/a>\u00a0in the Budget to boost the housing market.\u00a0Last year\u2019s Budget abolished the stamp duty for all\u00a0first-time homebuyers<\/a>.\u00a0David Westgate, chief executive of Andrews Property Group, thinks a banding stamp duty<\/a> should be proposed\u00a0this year.\u00a0<\/span><\/p>\n

However, some think that\u00a0stamp duty will\u00a0rise for buy-to-let investors. James Forsyth\u00a0of\u00a0The Spectator<\/i>,\u00a0known for his close\u00a0connections to the Government,\u00a0recently wrote a guest column for\u00a0The Sun\u00a0<\/i>where he highlighted this prediction for the Autumn Budget.\u00a0\u00a0<\/span><\/p>\n

He\u00a0wrote:\u00a0\u201cThis would, so the thinking goes, raise money for the Exchequer and help keep\u00a0house prices down\u2026 But if the Government is serious about helping more people on to the\u00a0property ladder, as opposed to just raising yet more money from Stamp Duty, then what\u2019s needed is changes to the planning laws to get far more homes built where people want to live.\u201d\u00a0<\/span><\/p><\/blockquote>\n

Following Hammond\u2019s speech on\u00a029\u00a0October, MPs will discuss and vote on the suggested measures\u00a0within the Autumn Budget.\u00a0<\/span><\/p>\n

 <\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Chancellor of the Exchequer Philip Hammond\u00a0will\u00a0reveal\u00a0the plan for the 2018 Autumn Budget on\u00a029\u00a0October, and new changes for buy-to-let landlords are\u00a0being\u00a0speculated.\u00a0 Brexit\u00a0is likely to\u00a0be the main\u00a0focus\u00a0of\u00a0the Autumn Budget. However, given the Government has put improving the\u00a0housing sector\u00a0as a\u00a0high priority on their agenda, many\u00a0are predicting the property market will be effected in some way.\u00a0Numerous\u00a0rumours\u00a0are\u00a0circulating\u00a0about\u00a0what the Budget could… Read more »<\/a><\/p>\n","protected":false},"author":1982,"featured_media":21702,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26,6],"tags":[361],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/21701"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/1982"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=21701"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/21701\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/21702"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=21701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=21701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=21701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}