Our respondents have highlighted again and unsurprisingly that the tax system is not favourable for property developers and investors. The property and construction industry is heavily taxed compared to many other OECD countries.
In 2017 the Mayor of London set out his ambition for London to be the world leading smart city with digital technology and data at the heart of making London a better place to live, work and invest.
Findings from our survey, much like last year, show that the London market is still affected by low growth due to uncertainty and SDLT.
The majority of our respondents operate UK only businesses and 91% had no intention of overseas expansion in the next 12 months. There were a variety of reasons including tax burden as a reason for not investing in mainland Europe by the majority of respondents.
The property and construction industry has long been an indicator of the health of the UK.
While the UK remains an attractive areas for investment, the industry is changing. Businesses face new challenges including financing, imbalance in the market, and fallout from Brexit. Over recent years, the pressure from rising complexity and levels of taxes has become and added burden.
As Brexit terms are negotiated with uncertainty surrounding them, how will the government ensure favourable terms for the industry, to maintain London's position as an international property hotspot. Join our seminar on 14 November 2018.
How we can helpOur clients are many and varied. They include listed and privately owned businesses, limited partnerships, sole traders, fund agents and international groups engaged in but not limited to: