Budget 2014: implications for the real-estate sector
George Osborne delivered a fiscally neutral Budget that was billed as a ‘credible plan to eliminate the deficit over the next four years’. There was very little excitement for the real-estate sector, with no news building on the Autumn Statement 2013 to address business rates, despite intense lobbying from the sector. There was some support for the housing industry and some strong tax measures imposed on residential property enveloped in a corporate structure.
The government will review the General Permitted Development Order and will consult on specific change-of-use measures: a proposal for a wider ‘retail’ use class, excluding betting shops and payday loan shops; greater flexibility for change to residential use, giving the ability to change from warehouse/light industry use to residential as an example; and greater flexibility for businesses to expand facilities such as car parks and loading bays within existing boundaries where there is little impact on local communities.
The new Planning Court will be launched on 6 April 2014. The response to consultation on the Nationally Significant Infrastructure Planning Regime is due shortly…
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News from Addleshaw Goddard
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Briefings from Addleshaw Goddard
Are you ready? The Insurance Bill and the Third Parties (Rights against Insurers) Act 2010 may soon become law
The Insurance Bill, which makes potentially significant changes to the law relating to business insurance, was introduced into Parliament on 17 July 2014.
Corporate News: ICSA Registrars Group guidance on articles of association and dividend distributions; and more
Addleshaw Goddard has published the June 2014 edition of Corporate News.
Analysis from The Lawyer
Could Slater & Gordon achieve its stated aim of becoming a top consumer brand by acquiring Pannone?
The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.