FB 2013: Property business reliefs

The government has finally confirmed the full extent of the anti-avoidance measures targeted at high-value residential property, and the corresponding package of exemptions and reliefs. While genuine property businesses should largely benefit from relief from the 15% rate of SDLT and the new annual residential property tax and capital gains tax charges, this article highlights the key considerations raised by, and some subtle differences between, the draft provisions related to the property business reliefs proposed to be enacted in respect of each of the three taxes.