Treasury must think long and hard before increasing property tax

摘要

Aside from the mostly unwelcome but not unexpected headline news, such as the hikes in VAT and capital gains tax, George Osborne's first Budget introduced a series of longer-term concepts, which, although not yet fully formulated, are likely to have an important influence on how we go about our business. The government proposed a reform of corporation tax.For British Land, a tax-exempt REIT - which means most of our business is tax free - this might seem to have little relevance. However, in opposition, the Tories mooted the idea that tax relief on interest should be re-evaluated and this is expected to be included in the review. A green paper on business finance is expected before the summer recess.