Instant reaction on what the Chancellor’s Statement means for HNWs and the prime property sector from Trevor Abrahmsohn…
No new tax on property – phew, what a relief! Common sense has, after all, prevailed. Thank goodness for small mercies.Mansion tax was avoided and so was extending the bands on Council Tax.
If imposed this could have had the most devastating effect on the residential property market that is in a delicate state at the moment with liquidity reduced significantly from the changes to Stamp Duty in the Spring Budget
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