Anticipated reforms to Capital Gains Tax (CGT) and Stamp Duty Land Tax (SDLT) haven’t materialised after HM Treasury released a large sum of tax document proposals and consultations this afternoon.
In the documents, the government has outlined a number of proposals and consultations around property related taxes which include:
- A residential property developer tax
- Valuing holiday lets for business rates
In a statement describing consultations and the government’s long-term tax reform, a statement reads:
“[The Government] set out how HMRC will deliver the flexible, resilient and responsive tax system the UK will need in the years ahead. The strategy focuses on delivering a fully digital tax system that works closer to real time, is fair and builds trust – allowing taxpayers to pay the right tax with ease as they live their lives and go about their business.”
