The Impact of the November 2024 UK Budget on Real Estate Investment Firms
As Chancellor Rachel Reeves unveiled the UK November 2024 Budget, the real estate investment landscape saw notable policy shifts. For real estate investment funds, this year’s budget presents both opportunities and challenges. Here’s a concise breakdown of the budget’s implications.
Key Takeaways from the Budget:
Residential Market Stimulation
Carried Interest Reforms:
- Effective April 2025: The Capital Gains Tax (CGT) rate on carried interest will increase to a single unified rate of 32%.
- April 2026: A comprehensive reform is planned, potentially reclassifying carried interest as income, subjecting it to income tax rates up to 45%, plus National Insurance contributions.
Business Rates Freeze:
Green Investment Incentives:
- Enhanced tax reliefs for green infrastructure investments align with the government’s sustainability goals.
- This includes 100% first year capital allowances for qualifying green technologies, 25% R&D tax credits, and it extends the existing relief or investments in energy efficient commercial buildings (including retrofitting). There is also tax relief available on income from Green Bonds. Centrick Invest highlights that funds investing in renewable energy and sustainable certifications can benefit, matching regulatory trends and ESG-focused investor demand.
How Marks Sattin can help you
Marks Sattin is uniquely placed to help businesses looking for hard to reach talent. We have extensive in-country networks, and corporate backing from a Top 20 global recruitment and HR services organisation. We specialise in a variety of markets, including financial services, professional services, executive search and commerce and industry. If you would like to learn more about how Marks Sattin can help with your recruitment needs, contact me today. Alternatively, explore our latest jobs or keep reading our content for more interesting news and insights.
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