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Budget 2018 - changes in private residence reliefs

Phillip Hammond’s 2018 Budget statement now seems a long way off. At the time, headlines mostly dwelt on the headline grabbing increase in personal allowances and the question of whether or not the Budget marked an end to austerity. A lot of water has passed under that bridge over the last few months, and attention has now shifted to the larger aspects of Brexit withdrawal and parliamentary arithmetic, but the draft legislation from the Budget has continued to evolve and a particularly relevant section for the agricultural sector has now been published, in the form of changes to prevent landlords from exploiting main residence relief allowances.


The views expressed are the author’s and not ICAEW’s.