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Industry breathes sigh of relief as commercial deals avoid stamp duty hike

The UK real estate market breathed a huge sigh of relief this afternoon after it was confirmed that a new 5 per cent rate of stamp duty land tax (SDLT) would only apply to residential transactions.

Peter Cosmetatos, the British Property Federation’s director for finance policy, said:

“While we have concerns over how this could affect bulk investment from institutions on the residential side, the Treasury’s desire to not impede the commercial market is very welcome. The BPF has worked hard to ensure that those in government fully understand the nature of the market and we are all particularly grateful that the status-quo has been maintained.”

For more information and all PR and media queries, please contact Andrew Teacher, Head of Media, on 020 7802 0113 or 07968 12 45 45 or ateacher@bpf.org.uk.