BUDGET: Property taxes must be paid quickly
Stamp duty land tax (SDLT) on commercial property is being moved to a graduated rather than ‘slab’ system, mirroring the change made last year to SDLT on residential property. The top rate is being increased from 4 to 5 per cent on transactions above GBP250,000. From 1 April 2017, SDLT on both residential and commercial purchases and on leases will have to be paid within 14 days. From 2019, capital gains tax on the sale of a non-exempt residential property will be payable within 30 days.
SDLT TIME LIMIT
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The firm aims to give its clients the benefit of long experience, which is considerable bearing in mind the fact that all of the partners have been in practice in Northern Ireland for over twenty or more years.
