Tax Cut on Multiple Home Purchases May Spark Investment in U.K. - Bloomberg
Tax changes planned by the U.K. government may encourage investment funds to become residential landlords, promoting development and alleviating a housing shortage, CB Richard Ellis Group Inc. (CBG) said.
Chancellor of the Exchequer George Osborne last month announced plans to lower the stamp duty tax on for buyers of multiple residential properties by basing the rate on the average price of the properties rather than the total value of the purchase. The government’s aim is to remove a barrier to large-scale investment, a Treasury spokesman said.
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