Following intense speculation in the lead up to the Autumn Budget the confirmed changes are likely to have a muted impact on the property market in Northern Ireland. Here’s what you need to know:

 Key Updates Affecting the Property Market

• No Major Stamp Duty Changes
  Despite speculation, there were no significant reforms to stamp duty or council tax bands.
• New High-Value Property Levy (from 2028)
  • Properties worth £2-5 million: Annual surcharge of £2,500.
  • Properties worth over £5 million: Annual surcharge of £7,500.

This will, of course, impact very few properties in Northern Ireland.

• Increase in Tax on Property Income
  • The Government is raising taxes on property income by two percentage points, a measure which will reduce the amount of money that private landlords make.
  • The basic rate will rise to 22%, the higher rate to 42% with the additional rate to 47%.

Why This Matters for You

If you’re buying, selling, or investing in property, these changes could influence your financial planning and future costs.

Need advice on how this impacts your property plans?

Boyd Rice Solicitors services clients across Northern Ireland. We offer heavily discounted rates to Staff Services members. For example, a Staff Services member will save £400.00 plus VAT on our standard conveyancing fee for the purchase/sale of a property valued at £200,000.00.

Please see https://staffservices.co.uk/boyd-rice-solicitors/ for more details about our discounted rates.