Budget 2016: SDLT strikes soft targets

There were audible gasps at MIPIM yesterday as the Chancellor unveiled his shock raid on the commercial property industry.   SDLT rates on commercial freehold and lease premium transactions have changed, so they are now applied in a similar way to residential properties. Until the Budget, the SDLT rates on commercial property applied to the whole transaction value, the so-called “slab” principle.  From today (17 March 2016) the rates will apply to the value of the property...