Neil Elsden, director at Banks BHG chartered accountants in Swindon, said the Autumn Statement delivered more on politics than content, and the Chancellor said very little.
“It is good news for businesses in Swindon that the small business rate relief scheme is being extended for another year. The uniform business rate is also to be abolished and councils will be able to set and keep their own business rates instead,” he said.
“We note that anti-abuse legislation is being strengthened, and that the taxation system will be fully digitised by the end of the decade. However, this does mean the Government will be able to accelerate collection of Capital Gains Tax after a property sale, as they have previously indicated. Couple that with the Chancellor’s announcement of a 3 per cent increase in stamp duty for second homes and buy-to-lets, and investment in property potentially becomes a lot less attractive.”
Tonight, Banks BHG will be presenting a review of the Autumn Statement at their Stratton offices. More details at www.banksbhg.com.
Pictured above: Neil Elsden of Banks BHG