Tag: Rachel Reeves

How Potential Taxes on Downsizers Could Impact the Housing Market

Posted on by Jessica Jonzen

As Chancellor Rachel Reeves seeks to find £50bn to plug the Government’s financial black hole, speculation over potential new taxes on homeowners have revealed that downsizers could be in the firing line at the next Budget. Head of The Buying Solution, Will Watson, shares his insights with Maya Wilson Autzen from The Telegraph.

Sarah Frances Kelley for The Buying Solution

With the Chancellor reportedly considering replacing stamp duty with a new tax on sellers of homes over £500,000, it has also been suggested that the Government could charge capital gains tax on primary residences worth more than £1.5m.

As a result, homeowners are now considering delaying selling until a new government (they hope) is in place – a decision which would limit stock levels further still, says Will Watson in The Telegraph.

Read the article here.

Prime Property Insiders React to Non-Dom U-Turn Rumours

Posted on by Rosalind Sack

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.

Sarah Frances Kelley for The Buying Solution

“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.”

Read the article here.