article thumbnail

Property & Construction: Spring Budget 2024 Predictions & Wish List

Menzies

Menzies LLP - A leading chartered accountancy firm. See our Property & Construction Team’s predictions and wish list for the Chancellor’s Spring Budget 2024 below. We know the CGT allowance is due to be reduced from £6,000 to £3,000 in April 2024 so this could be delayed or scrapped.

article thumbnail

Spring Budget 2024 – Property Sector Commentary

Menzies

Menzies LLP - A leading chartered accountancy firm. Taking all the above measure into account it appears that the Government is set to reduce the number of private landlords in the market. Did the budget produce any positives for the property and construction sector?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Changes to Structures and Buildings Allowance

Menzies

Menzies LLP - A leading chartered accountancy firm. Whilst it may appear that many costs of a construction project will not qualify for plant and machinery allowances, it is certainly worth investigating as the rules are detailed and may apply to more costs than expected. Who do the new tax relief rules apply to?

article thumbnail

Business Tax: Property matters

Menzies

Menzies LLP - A leading chartered accountancy firm. Businesses operating within the property and construction sector may have specific needs and requirements that are not commonly found in other sectors. This may include for example complying with the Construction Industry Scheme.

article thumbnail

Insolvencies reach 30-year high in 2023

Menzies

Menzies LLP - A leading chartered accountancy firm. The construction, hospitality, and retail sectors were hit the hardest, likely due to their vulnerability to the immediate effects of economic downturns. 2023 Insolvency Statistics in a nutshell The number of overall insolvencies recorded reached a 30-year high.

article thumbnail

Autumn Budget: Property Wishlist & Predictions

Menzies

Menzies LLP - A leading chartered accountancy firm. CIS The UK Construction Industry Scheme (CIS) has been operating for many years, and back in April, the government launched a consultation on reform to remove a number of longstanding irritations for those companies who have to make CIS returns.

article thumbnail

Menzies advise on Paragon and Bond Davidson merger

Menzies

Menzies LLP - A leading chartered accountancy firm. The merged business will have combined revenues of around £22m and 200 staff across London, Esher, Manchester and Edinburgh, making it one of the UK’s largest independent building and project consultants, advising on projects with a total construction value of £5bn.