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17 February 2020

The Money Laundering Regulations 2019 passed into UK law on 10 January 2020, affecting those working in property auctions, sales as well as lettings and high-value dealers. Read More...

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Propertymark submits proposals for spring budget

Monday 10 February 2020

Suggestions have been sent to HM Treasury on new policy ideas for both estate and letting agents to be included in 2020’s Spring Budget.

HM Treasury invited interest groups, individuals and representative bodies to comment on government policy and/or suggest new policies for inclusion in the upcoming Budget.

Propertymark suggests that Government:

  • Make the retail discount for business rates available to estate agents
  • Exempt downsizers from stamp duty or give them incentives to encourage them to “right-size”
  • Raise the property value for Stamp Duty Land Tax (SDLT)
  • Abolish the three per cent surcharge on additional residential property and review landlord taxes
  • Legislate to ensure developers remedy leaseholders with onerous clauses
  • Introduce a digital logbook for every property bought and sold

Our full representation which includes comments on the impacts for the sector and revenue implications can be found below.

Spring budget representation

WHAT PROPERTYMARK IS DOING

Propertymark will continue to lobby and challenge decision-makers in the industry to make vital changes.