Budget News

Specialist lawyers at George Davies comment on what the budget means to you. Residential property expert Zara Banday said "First time buyers are the real winners on the property front, with all houses below £250,000 now exempt from stamp duty for a period of 2 years.However, people purchasing at the top end of the market at £1,000,000+ will find themselves having to pay stamp duty at a rate of 5%."

However, people purchasing at the top end of the market at £1,000,000+ will find themselves having to pay stamp duty at a rate of 5%."

Chris Ross who specialises in corporate law commented "The increase in the lifetime entrepreneurs' relief rate from £1million to £2million for disposals made after 5th April 2010 is good news for entrepreneurs and SMEs. It will stimulate deal activity and provide further incentive for deals whilst making it more attractive for "wealth creators and investors" to set up their own businesses.