UK Spring Budget 2017 – A Focus on Real Estate Taxes

    View Authors March 2017
    Given the seismic changes announced in recent years, this Budget was refreshingly light on real estate taxation reform. That said, important changes were announced in a number of areas. These included: 
    • The tax treatment of offshore profits arising in respect of dealing in or developing UK land
    • A delay to the proposal to reduce (from 30 to 14 days) the SDLT filing and payment window 
    • New rules that restrict the ability to convert a reduction in the capital value of an asset into a trading loss
    • The ability to make elections in respect of non-ATED-related losses