Following the chancellors speech, Alvarez and Marsal, Taxand UK, presents a special alert explaining the fairly cautious set of proposals with one or two surprises thrown in for good measure.
Highlights include:
For non-resident landlords, gains realised on the eventual disposal of real estate assets will now be subject to U.K. tax.
Withholding tax is to be levied on royalties paid to tax havens.
Changes to the rules on how business rates are computed have been brought forward.
A new exemption from stamp duty land tax for first-time buyers of properties.
