As reports suggest that chancellor Rachel Reeves is considering changes to the inheritance tax rules for non-doms, Head of The Buying Solution Will Watson shares his reaction with PrimeResi.
“The changes have had a hugely negative impact in the short to medium term with a significant exodus from the London market,” says Will. “Reeves announcement gives a renewed optimism to the prime London market. This coupled with the feeling of unrest elsewhere such as the Middle East, and feeling that many other cities just cannot offer what London has are likely to halt decisions to relocate entirely while they wait and see.
“There is no assurance which way this will go, but for us this signals a window of opportunity ahead of the Autumn budget as a great window to buy well. As if non-dom taxes are then reduced at the October budget the buyers will return back quickly and with confidence.”
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