haysmacintyre Property Briefing Spring 2017
Welcome to haysmacintyre’s Spring 2017 Property Briefing.
Last November we held an enjoyable, informative and successful breakfast seminar on the economic outlook for
the UK and the property sector and I am delighted that our two speakers, Jeremy Cook, from World First, and James Thornton, from Mayfair Capital, have contributed articles to our Briefing. James looks at how investment strategy needs to anticipate future needs whilst Jeremy considers the global macroeconomic environment. With HS2 about to leave the sidings and be part of the mainline in years to come, Christopher Stanwell and Nick Marshall, Partners at DAC Beachcroft, consider the issues that will arise for landowners affected by the route. I thank our three external contributors for their thought provoking articles and insight.
Nearly ten years ago, Sir David Tweedie, the former chairman of the IASB, expressed a desire to fly on a plane that had landed on the airline’s balance sheet. In a couple of years’ time he should get his wish when IFRS 16 comes into being. Our article on IFRS 16 explains the transformational impact it may have on those entities that utilise leased assets.
Two articles look at two acronyms: SDLT and MTD. SDLT, or Stamp Duty Land Tax to give it its full title, has become a tax that can no longer be lost in the roundings; we look at where SDLT now stands. Our final article explains the impact of MTD, or Making Tax Digital. This acronym whilst, possibly, currently less well known in the property sector than SDLT, is likely to become much more familiar in the coming year despite the announcement on 25 April that MTD was being dropped from the Finance Bill 2017. MTD is a tremendous IT challenge for HMRC and, whilst history is littered with Government IT projects that have been “less than successful”, one that MRC is pushing ahead with and which businesses will need to plan for.
I hope you find this edition interesting and insightful. Please feel to contact me or your usual haysmacintyre
adviser to discuss any of the matters raised in this Briefing. We look forward to hearing from you.
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Ian Daniels, Partner, Head of Property at haysmacintyre
T 020 7969 5502