Key budget changes so far to affect the property market

• Growth forecast cut to 2% for 2016 from the 2.4% forecasted last year
• Inflation to remain low at 0.7% for 2016

Personal taxation:-
Capital Gains Tax reduced:-

• From 28% to 20% for higher rate tax payers
• From 18% to 10% for basic-rate taxpayers

However, this won’t change anything on property sales as:-
There will be an additional 8 percentage point surcharge to be paid on residential property and carried interest (the share of profits or gains that is paid to asset managers).

• 40% tax payer threshold rises from £42,385 to £45,000 in April 2017
• Tax-free personal allowance to rise to £11,500 in April 2017
• Rise of 0.5% in insurance premium tax

Housing relevant changes:-
New "lifetime" Isa for the under-40s:-
Government will top up by £1 every £4 saved, up to £4,000 per year (to replace the Help to Buy ISA)

The Money Advice Service to be scrapped.

New commercial stamp duty rates apply from 12am Wednesday 16th March 2016:-

• 0% rate on purchases up to £150,000, 
• 2% on next £100,000 
• 5% top rate above £250,000.

Corporation tax to fall from 20% to 17% by 2020

Specific area investment:-

• Crossrail 2 in London, see where this will impact
• HS3 link between Manchester and Leeds
• £700m for flood defences schemes - could raise / recover housing values in areas affected so badly eg the Calder Valley
• Tolls on Severn River to be halved by 2018 – may help more movement across the border

Here’s the detail:-
https://www.gov.uk/government/news/budget-2016-some-of-the-things-weve-announced