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Budget response from Jonathan Seathey, Hope Capital PDF Print E-mail
Wednesday, 08 July 2015

Responding to today’s budget, Jonathan Sealey, CEO of Hope Capital, reflects on the impact of corporation tax cuts and national insurance employment allowance on companies using bridging finance:

He says: “Buy to let accounts for 18 per cent of new mortgage lending and is a growth market for bridging lenders. However, the question right now is whether the blow for UK buy to let landlords will also potentially affect property stocks and houses builders? We could potentially see landlords selling off some of their portfolio if tax rates become too onerous or finding other ways to invest in property.

“Other than buy-to-let, the cut in corporation tax will help all of those companies who use bridging as a means to develop properties, or as a means to expand their businesses.  As will the 50% increase in national insurance employment allowance – as many developers are small businesses.  Hopefully when the full details of dividend payments become clear, many smaller builders and developers will also find that they are better off leaving them with more money to invest in line with the Chancellor’s prediction that despite the changes 85% of people who pay themselves in dividends will potentially be better off.  Of course the devil will be in the detail that will no doubt emerge over the next few days.

(Source - Hope Capital Comment)  

 

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