The Chancellor's Budget speech included a number of measures which will be of interest to the social housing sector, one of the more significant being the proposed phased introduction of two new Annual Tax on Enveloped Dwellings (ATED) bands, extending the regime to properties worth over GBP500,000. There will be a period of consultation regarding the proposed ATED changes, in particular in relation to possible simplifications to ATED administration to reduce compliance burdens, and it will be important for social housing providers to contribute to this consultation.
As mentioned in previous Budgets, the Government will continue with the simplification of the planning system, including a review of the General Permitted Development Order and a consultation on specific Changes for Use measures, including greater flexibility for change to residential use.
Read KPMG’s general commentary on the 2014 Budget Report (PDF 1.31 MB)
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