As the UK prepares for the first budget of the new Labour Government, due to be delivered by Chancellor Rachel Reeves on 30 October 2024, commercial property owners and investors are on high alert. In a recent interview with the News Agents Podcast, Reeves hinted at potential tax increases, though she remained tight-lipped about the specifics. Speculation is rife that Inheritance Tax, Capital Gains Tax, and Stamp Duty Land Tax could be increased. If any tax rises are announced on budget day, they might take effect immediately.
Why You Should Act Now
If you’re considering selling or transferring commercial property, now is the time to act. As any commercial property buying guide would suggest, completing your transaction before 30 October could help you avoid paying more tax, which is especially important for buyers as securing finance and carrying out property searches can take time.
Don’t Delay – Contact Our Commercial Property Team Today
To reduce the risk of paying more tax, anyone planning to buy or sell commercial property should seek commercial property disposal legal advice as soon as possible. Lawson West Solicitors are here to guide you through your transaction efficiently, and prompt action may help ensure it is completed in time while reducing the risk of paying more tax.
Please contact us on telephone 0116 212 1000 or 01858 445 480, alternatively fill in the free Contact Us form and we will get in touch as soon as possible.
