By Rosie Chalmers, CFO of Oracle Capital Advisors
The UK’s next Budget will take place on 19th March, when Chancellor George Osborne will set out outline the government’s spending plans and economic strategy for the year ahead. The main Budget takes place in March each year, with an additional Autumn Statement in December when other new measures or changes are announced. The most recent of these took place on 5th December 2013.
Naturally, the measures introduced in the Budget affect both those who live in the UK and those outside it but who have UK interests. In the recent Autumn Statement, the government announced that from April 2015 foreign investors will have to pay capital gains tax when they come to sell their property in the UK, a step being taken to tackle the perceived housing bubble in the London property market. This might serve as a disincentive for those considering investing in UK property, but leaves a decent window for current property owners to consider alternative holding structures. This change was first announced in 2013’s Autumn Statement, and further details are expected to follow in this Budget.
