Here at the top end of the market, we have been weighing up how the policies likely to be announced on the 22nd of June will affect our clients.
Whilst the ditching of the Lib Dem plans for an annual ‘Mansion Tax’ on properties over £1m will be welcomed, the shelving of the Tories’ promise to raise the Inheritance Tax threshold to the same figure will hit home hard. Second home owners and shareholders could be significantly impacted by the expected changes to capital gains tax.
And then there’s the scrapping of Home Information Packs, although they may have deterred those simply wishing to test the market, I suspect that they won’t be missed by many. But in this time of seismic political change, one factor will remain constant, the service we provide to our clients.
High net worth individuals trust our understanding of the top 25% of the property market because they know that’s the area in which we specialize. Whatever the outcome of the budget, we will continue to repay that trust by providing the very best intelligence, analysis and advice available.
Warren Jones, Wrights Welwyn Garden City