2014 property industry update – what will happen this year?
The government has aspirations to streamline the UK’s planning system and to encourage homebuilding and home ownership.
Energy costs have dominated the news in recent months and property owners need to remain vigilant to changes that may have consequences on property ownership and management.
Changes to look out for include:
- Implementation of the commercial rent arrears recovery scheme
- Proposals to assist businesses in England with the cost of business rates
- The passage through Parliament of the High Speed Rail (London – West Midlands) Bill 2013-14
- A focus on tighter regulation of the privately rented sector
- More detail on the reform of the Common Agricultural Policy
- Reform of flood insurance through the Water Bill 2013-14
- Changes to the planning regime for nationally significant infrastructure projects
- A halving of the final period exemption for principal private residence relief
- Consultation on the introduction of capital gains tax on disposals of UK residential property by non-UK residents for Capital Gains Tax
Look out for updates in later editions of Law News where we will include details of any significant legal implications.