Budget 2011 response: Welcome news for the Property & Construction sector
MacIntyre Hudson, the top 20 accountancy firm, has reacted swiftly to welcome the news - given in the Plan for Growth - of a number of initiatives introduced to stimulate growth in the property and construction sectors.
Nigel May, Tax Principal at MacIntyre Hudson commented: "Our clients will welcome the proposals which promise to reduce red tape, remove entry barriers and lessen operating expenses.
"For example, the SDLT relief for "bulk" purchases of residential property might offer sizeable savings. Take a portfolio of four flats at £200,000 each. An SDLT liability of £32k would now be £8k under the new rules.
"Additionally, we are relieved to see no further mention of the plan to treat self employed construction workers as employees through the false self employment legislation that was proposed by the previous Government."
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Media Contacts
Nigel May is available for budget comment. Contact Carole Scott or Kate Baker in the MacIntyre Hudson Budget Press Office:
Carole: 07791 253436
Kate: 07949 565585
MacIntyre Hudson landline: 0207 429 4100
