Finance
Overseas investment creating ‘distorted and dysfunctional’ PCL housing market
Left-leaning think-tank, the Smith Institute, has called on the Government to address the impact of overseas buyers purchasing PCL homes for investment purposes.
Required Reading: resi tax crib sheet
The legal gurus at Mishcon de Reya have produced a very handy guide to taxes on UK residential property.
Huge double tax hit for British owners of second homes in France
UK residents who own second homes in France now face a double tax on property income as Francoise Hollande launches a new 15.
Developers cater for Asian influx
With Asian buyers reportedly accounting for 60 pc of new build properties purchased in Central London in 2011, developers are increasingly tailoring projects to appeal to their top demographic.
Reduced Inheritance Tax rate for philanthropists
From 6 April 2012, people who leave at least 10 per cent of their net estate to charity may be able to pay a reduced rate of Inheritance Tax of 36 per cent.
Heritage Tax confirmed from 1st October
In a disappointing result for heritage organisations, HMRC has confirmed that VAT will be charged on alterations to listed buildings from 1st October 2012.
Floods could cost £2.5 billion – again
This year's summer flooding marks the fifth anniversary of 2007's floods, which cost the insurance industry £2.5 billion.
CML pushes for stamp duty reform
The Council of Mortgage Lenders (CML) have set out a range of options for fundamental stamp duty reforms that would do away with the current (flawed) "slab" structure.
Westminster announces major regeneration scheme
Westminster Council have released plans for a massive £70m investment scheme in Westbourne Green.
British Land buys Daily Mail printing works
British Land and The Daily Mail General Trust have announced the conditional sale of DMGT’s 14.5 acre Harmsworth Quays printing works site at Canada Water in South East London to British Land.
Partnerships deliver another record year for United House
United House Group, the specialist developer and contractor, has achieved another year of record revenue levels,with the Group’s latest annual results showing revenue up to a £239m (2010: £201m) with…
BLME launches advisory service for Gulf-based PCL buyers
One of the largest Islamic banks in Europe, the Bank of London and The Middle East (BLME), has launched a property advisory service after seeing a significant increase in demand for prime London property.