After the Budget yesterday here is a run down of the Government’s forthcoming announcements. Does anything here impact on you, your business, your outlook, if so please make sure you get in contact with us at Weber Shandwick Property - the leading property communications team in the UK and Ireland.
Coming Up:
Sale and rent-back market
The Office of Fair Trading will lead a study of the market this year, focusing on consumers’ experience of these arrangements, and consider options to strengthen consumer protections
Regional strategy
The government will shortly consult on bringing together the Regional Economic Strategy (RES) and Regional Spatial Strategy (RSS) into a single strategy setting out housing plans alongside wider economic, social and environmental objectives
Brownfield land
The government is introducing measures to reform the tax incentives for developing brownfield land to make them more environmentally sustainable. The government will consult on draft legislation in the summer (Red book, Chapter 5, pg 86, 5.40).
Zero carbon buildings
The government sets out an ambition for all new non-domestic buildings to be zero carbon from 2019. The government will consult this year on the timeline for this ambition and its feasibility, and review progress in 2013. (Red book, chapter 1, pg 7, 1.17) and
Green Homes Forum
In order to support effective delivery and to harness the enthusiasm and expertise of community groups and other interested parties, the government will convene a Green Homes Forum in the autumn. The government is also interested in exploring what more can be done to raise awareness amongst the public of the ways and benefits of improving domestic energy efficiency.
Zero-carbon homes
The government will set out the definition for a zero-carbon home for the purposes of the 2016 ambition by the end of 2008, following a consultation in summer
Building allowances
Legislation will be introduced in Finance Bill 2008 to give effect to changes relating to industrial building allowances, enterprise zone allowances and agricultural buildings allowances
Relief for zero-carbon flats
Legislation will be introduced to extend SDLT relief to cover new zero carbon flats
Notification and rate thresholds
Legislation will be introduced to change the rules for persons notifying HMRC about land transactions. The “£600 rule” will also be changed and, from later this year, agents will be allowed to sign declarations in the certificate that no stamp duty land tax (SDLT) is due
Anti-avoidance legislation affecting partnerships
Legislation will be introduced to amend provisions to ensure that, where there is a transfer of an interest in a property within an investment partnership, there will be no charge to SDLT
House prices indices
The government will work with industry to investigate the possibilities for the development of detailed house price indices which would help the development of insurance on house price movements