Despite some headline grabbing announcements, this Budget has been one of the most disturbing of recent times. First, the government, under the guise of stamping out the avoidance of SDLT, is putting in place the foundations of a ‘mansion tax’, the scope of which could be easily extended in future years. Second, the introduction and extension of ATED could lead to a wholesale change to the way in which real estate is taxed in the UK. Finally, we now see rules which require payment of disputed tax before a taxpayer is able to litigate the point and powers to raid bank accounts.
