CCR Magazine

You are here  :Home arrow News arrow CREFC Europe respond to Budget changes to SDLT and BEPS and interest deductability
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


CREFC Europe respond to Budget changes to SDLT and BEPS and interest deductability PDF Print E-mail
Thursday, 17 March 2016

Peter Cosmetatos, CEO, CREFC Europe, said: "While there are a few positives in this budget – such as certain business rate changes – there is further evidence that the government doesn't fully appreciate the essential role large-scale, strategic property investment plays in our economy. 

The stamp duty announcements in particular will surely end up hitting regeneration and mixed-use place making, so even small businesses will suffer indirectly from higher rates for bigger transactions. If we are serious about re-booting our economy by being a nation of builders, hitting the institutional PRS and commercial investment with extra SDLT makes no sense. The government risks stifling interest in our economy and driving much-needed investment away.”

BEPS and interest deductibility
Peter Cosmetatos, CEO, CREFC Europe, said: “By rushing to adopt OECD plans restricting interest deductibility the chancellor risks undermining investment just when we need it most. Capital-intensive businesses like commercial property rely on debt to fund investment.  While we support OECD and G20 efforts to counter international tax avoidance, rushing in such measures could be harmful to investment in UK cities.”

Stamp duty land tax
Peter Cosmetatos, CEO, CREFC Europe, said: “For investors in larger properties, the change to the SDLT rules effectively means that their stamp duty tax bills will go up by almost 25 per cent overnight. The likelihood is that this cost will ultimately be passed on to tenants. Small businesses may find themselves the unintended victims of a tax change that was said to be directed at helping them.”

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197