New consultation on an annual levy for properties held by companies worth over £2 million
The measure
Consultation is announced on an annual, valued based levy where residential properties over £2 million are held by companies.
Who will be affected?
All investors in companies, funds or other entities holding such properties.
When?
It will commence in April 2013.
Our view
This measure has the same anti-avoidance purpose as the 15% charge, but may be seen as necessary to catch properties already held through companies before Budget day.
