Last month, Chancellor George Osborne gave commercial property stamp duty a shakeup. Now working in a similar way to the tiered system that is used for residential properties, the new rates will see commercial properties worth up to £150,000 become stamp duty free. A charge of 2% will then be added onto the next £100,000 and a further 5% for anything over £250,000.
Also, landlords buying a commercial or mixed use property will be exempt from paying the additional 3% stamp duty charge that residential investors now have to pay when buying properties to let or as second homes.
Investing in commercial property often gives you higher average yields than residential investment because of less competition in the commercial market. Combined with the stamp duty changes commercial property is becoming an increasingly attractive option for many investors.
To find out more about how you can maximise your commercial investment, contact Chancellors Commercial team at one of the following branches or e-mail commercial@chancellors.co.uk:
- Surrey & Berkshire Commercial – 01344 408055
- Buckinghamshire Commercial – 01494 774456
- Oxfordshire Commercial – 01865 764000
Alternatively, to view our commercial properties .
Correct at time of publication. The views and opinions expressed herein are those of the individual contributor and do not necessarily reflect those of the Chancellors Group of Estate Agents Ltd or its subsidiaries. References to legislation, best practice and other matters with legal implications such as fees, rules and processes are included for information and editorial purposes only and are not authoritative, nor should they be interpreted as advice. When in doubt you should only take advice from an industry professional or solicitor where appropriate. E&OE.
