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Autumn Budget 2018

Not many tricks in Philip Hammond’s Autumn Budget 2018, but a few unexpected treats in the form of a new structures and buildings allowance, reduction in business rates and an exemption for REITs disposing of property rich companies. investors will have to see if there are fireworks when the Finance Bill is released. This should contain further detail of the non-resident capital gains tax charge on direct and indirect disposals of UK property.

Compared to recent UK Budgets, this Budget contained few new measures of concern for private clients, although non-doms with excluded property trusts will be interested in the proposed ‘clarification’ of certain inheritance tax (IHT) rules for such trusts.

Read our detailed analysis below.

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